According to the popular TV programme 'A Place in the Sun', the cost of buying property in Bulgaria is getting cheaper, which is good news for Brits seeking a bargain holiday home in Bulgaria.
From the latest data released by Raiffeisen Real Estate, as featured on the programme, Bulgaria property prices continued to fall during the final quarter of last year, with prices in the capital Sofia dropping by 9.4 per cent year-on-year and by 5.2 per cent compared to the third quarter of 2010.
This is confirmed in the latest market analysis from Property Partners BG but Managing Partner, David Livingstone says, "The worst is behind us, prices have reached the bottom of the curve and there are signs that buyers are returning to the market, picking up bargains before prices increase again."
Although the residential property market in Bulgaria has received massive investment from both locals and foreigners over the past few years, property prices have fallen and transactions have slowed considerably since 2007, as a consequence of an oversupply of homes and the financial downturn in the economy. Overall, property prices have depreciated by around 60 per cent, which means that price levels are currently the lowest in Europe.
Related articles:
Brits Searching for Bargains in Bulgaria's Property Market
Time to Buy in Bulgaria's Recovering Property Market
Bulgaria Gateway Property Market Analysis - Q1 2011
From the latest data released by Raiffeisen Real Estate, as featured on the programme, Bulgaria property prices continued to fall during the final quarter of last year, with prices in the capital Sofia dropping by 9.4 per cent year-on-year and by 5.2 per cent compared to the third quarter of 2010.
This is confirmed in the latest market analysis from Property Partners BG but Managing Partner, David Livingstone says, "The worst is behind us, prices have reached the bottom of the curve and there are signs that buyers are returning to the market, picking up bargains before prices increase again."
Although the residential property market in Bulgaria has received massive investment from both locals and foreigners over the past few years, property prices have fallen and transactions have slowed considerably since 2007, as a consequence of an oversupply of homes and the financial downturn in the economy. Overall, property prices have depreciated by around 60 per cent, which means that price levels are currently the lowest in Europe.
Related articles:
Brits Searching for Bargains in Bulgaria's Property Market
Time to Buy in Bulgaria's Recovering Property Market
Bulgaria Gateway Property Market Analysis - Q1 2011
Our aim is to provide a single source of information, advice and practical help for everybody visiting Bulgaria. So, whether you are planning a relaxing holiday break, a travel adventure, a fact-finding trip for your property purchase - or if you are thinking of moving here permanently, we recommend that you visit our websites at:
MovetoBG.com - and Twitter @MovetoBG
for comprehensive information, advice and assistance
Bulgaria Gateway - and Twitter @BulgariaGateway
for accommodation options, resources and services
Property Partners BG - and Twitter @Prop_PartnersBG - or on Facebook
for all the latest real estate listings and offers of properties for sale
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