Further signs of recovery in the property market were reported today by real estate experts citing a 4-fold increase in buyer enquiries and completed sales.
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MovetoBG.com CEO, David Livingstone confirmed recent data from Bulgaria's Address Real Estate company indicating that the real estate market seems to have recovered from the crisis, as it has grown four times more active than in its worst period.
According to an analysis prepared by Address, properties valued under Euro 50000 are the most sought after among buyers. But even though 45% of all buyers are looking for properties at this price level, deals worth more than Euro 100000 are not as rare as they have been during the past year or so.
The report also points out that the majority of buyers are employed within the economic sectors that have remained relatively unaffected by the crisis, including the food, medical and education industries, as well as state administration and that they are now more inclined to complete deals more quickly, usually within 2 to 3 months after they start their property search..
While 2-bedroom apartments in the cities are the most sought-after property type in the domestic market, it is still family houses in the inland towns and villages that are attracting most interest from foreigners. Potential buyers are now registering interest in renovated and furnished properties in good condition priced at around €30000 to €40000 on the Black Sea coast and in low-cost rural houses for renovation in a number of inland areas, including the regions around Veliko Tarnovo, Sliven, Stara Zagora and Plovdiv.
According to an analysis prepared by Address, properties valued under Euro 50000 are the most sought after among buyers. But even though 45% of all buyers are looking for properties at this price level, deals worth more than Euro 100000 are not as rare as they have been during the past year or so.
The report also points out that the majority of buyers are employed within the economic sectors that have remained relatively unaffected by the crisis, including the food, medical and education industries, as well as state administration and that they are now more inclined to complete deals more quickly, usually within 2 to 3 months after they start their property search..
While 2-bedroom apartments in the cities are the most sought-after property type in the domestic market, it is still family houses in the inland towns and villages that are attracting most interest from foreigners. Potential buyers are now registering interest in renovated and furnished properties in good condition priced at around €30000 to €40000 on the Black Sea coast and in low-cost rural houses for renovation in a number of inland areas, including the regions around Veliko Tarnovo, Sliven, Stara Zagora and Plovdiv.
Related articles:
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Time to Buy in Bulgaria's Recovering Property Market
Look Inland for Today's Bulgarian Treasures
Rising Property Sales Reported in Bulgaria
Bulgarian Property Prices Reach Their Baseline
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