Residential property prices in Bulgaria are now the lowest in Europe and sales are rising as buyers seek bargain real estate deals. Since the beginning of the year, the country's residential property market has stabilised and is now primarily driven by foreign buyers seeking the best ratio between price and quality of the property, according to a Raiffeisen Real Estate report.
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More people are entering the market and completing transactions, according to real estate agents. They say that 2011 is the first time since the start of the real estate downturn that the number of property deals has risen.
The country's continuing economic growth, coupled with the drop in property prices has led to a rise in sales, which is the first positive sign for the market, according to David Livingstone, CEO of specialist agency MovetoBG.com
Data from the Bulgarian National Registry shows that the number of completed property deals has increased by an amazing 48% in Q2 2011 compared with the same period in 2010. with the country's four largest cities, Sofia, Plovdiv, Varna and Bourgas, all displaying increases. The highest number of transactions was in Sofia and in places along the country's southern Black Sea coast, which contributed 40% to the total volume of property sales in the country.
Related articles:
Bulgaria's Q2 Property Sales Rocket by 48%
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Rising Property Sales Reported in Bulgaria
Bulgarian Property Prices Reach Their Baseline
Time to Buy in Bulgaria's Recovering Property Market
The country's continuing economic growth, coupled with the drop in property prices has led to a rise in sales, which is the first positive sign for the market, according to David Livingstone, CEO of specialist agency MovetoBG.com
Data from the Bulgarian National Registry shows that the number of completed property deals has increased by an amazing 48% in Q2 2011 compared with the same period in 2010. with the country's four largest cities, Sofia, Plovdiv, Varna and Bourgas, all displaying increases. The highest number of transactions was in Sofia and in places along the country's southern Black Sea coast, which contributed 40% to the total volume of property sales in the country.
Related articles:
Bulgaria's Q2 Property Sales Rocket by 48%
Experts Agree that Property Market has Bottomed Out
Rising Property Sales Reported in Bulgaria
Bulgarian Property Prices Reach Their Baseline
Time to Buy in Bulgaria's Recovering Property Market
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