Property experts, Bulgarian Properties, report that the number of rural property sales in the third quarter of 2011 remains the same as in the previous two quarters of the year, so there is no significant change in this market sector.
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The only difference is in the average price of the concluded deals which in the last three months is just over 20000 Euro while in the first and second quarters of the year it was between 16000 and 17000 Euro. The difference in the prices comes from an increased number of deals with higher quality rural homes that are ready to live in right after purchase.
These properties are generally priced between 15000 and 45000 Euro and located near to the sea resorts of Bourgas and Varna or close to the big cities of Plovdiv, Stara Zagora and Veliko Tarnovo. The cheapest rural houses are in the area of Yambol and Elhovo where the average price is about 10000 Euro but there are also offers for as low as 5000 Euro.
As with holiday properties, the main buyers of rural houses are Russians. They look for houses that are furnished and ready to live in priced between 15000 and 40000 Euro, which also explains the higher prices of the rural properties sold in the last few months.
In contrast to a few years ago there is now a wide choice of quality rural houses at bargain prices. The sellers are mainly British, with some owners selling their properties at a loss after the market decline of the last 2 to 3 years.
Welcoming the increase in sales volume David Lingstone, CEO of MovetoBg.com, also points out that "..this is another strong indicator that the property market has turned the corner and is now well on the road to recovery."
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