The asking prices of holiday homes in the large resorts in Bulgaria are now at their lowest level for four years. Compared with data from Q3 2008, prices of apartments in Sunny Beach have decreased by around 45%. Through 2010 and into the summer of 2011 the average asking price was Euro 750 per sq. metre, with an average apartment priced at Euro 51400. Today, though, deals are being concluded at Euro 515 per sq. metre and an average apartment price or Euro 32400.
It is currently Russian clients that are most interested in beach properties and they are picking up extremely good bargain offers of finished, furnished and ready to move in apartments at prices up to around Euro 40000. The Russians have been the main buyers of holiday apartments in the last couple of years and this trend is set to continue through 2012. However, foreign buyers from other countries, mainly the UK, the Netherlands and Romania are now returning in growing numbers to the Bulgarian property market.
This overall pattern is similar for ski resort holiday homes, where prices of properties have fallen by about 25% in the last year.
As a comparison with the beach resorts, data from Property Partners BG shows that the highest prices of properties in Bansko, the largest ski resort in Bulgaria, were registered in 2008 and, since then, overall asking prices have fallen by more than 50%. The average asking price in Bansko, today is about Euro 680 to Euro 710 per sq. metre. However, deals are currently being concluded at Euro 500 per sq. metre.
Summarising this data, David Livingstone, CEO of MovetoBg.com, points out that there is nowhere else in Europe where beach and ski holiday apartments can be purchased at such attractive prices. "This pricing model has resulted from Bulgaria's position as the EU country least affected by the global financial crisis .. and it offers a unique opportunity to the wise investor looking for today's best value property purchases."
Related articles:
Time to Buy in Bulgaria's Recovering Property Market
Brits Searching for Bargains in Bulgaria's Property Market
Experts Agree that Property Market has Bottomed Out
Bulgarian Property Prices Reach Their Baseline
It is currently Russian clients that are most interested in beach properties and they are picking up extremely good bargain offers of finished, furnished and ready to move in apartments at prices up to around Euro 40000. The Russians have been the main buyers of holiday apartments in the last couple of years and this trend is set to continue through 2012. However, foreign buyers from other countries, mainly the UK, the Netherlands and Romania are now returning in growing numbers to the Bulgarian property market.
This overall pattern is similar for ski resort holiday homes, where prices of properties have fallen by about 25% in the last year.
As a comparison with the beach resorts, data from Property Partners BG shows that the highest prices of properties in Bansko, the largest ski resort in Bulgaria, were registered in 2008 and, since then, overall asking prices have fallen by more than 50%. The average asking price in Bansko, today is about Euro 680 to Euro 710 per sq. metre. However, deals are currently being concluded at Euro 500 per sq. metre.
Summarising this data, David Livingstone, CEO of MovetoBg.com, points out that there is nowhere else in Europe where beach and ski holiday apartments can be purchased at such attractive prices. "This pricing model has resulted from Bulgaria's position as the EU country least affected by the global financial crisis .. and it offers a unique opportunity to the wise investor looking for today's best value property purchases."
Related articles:
Time to Buy in Bulgaria's Recovering Property Market
Brits Searching for Bargains in Bulgaria's Property Market
Experts Agree that Property Market has Bottomed Out
Bulgarian Property Prices Reach Their Baseline
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Bulgaria Gateway - and Twitter @BulgariaGateway
Property Partners BG - and Twitter @PropertyPtnrsBG - or on Facebook
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