Bargain Holiday Properties now Available in Bulgaria

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

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Bulgaria Gateway - and Twitter @BulgariaGateway
Property Partners BG - and Twitter @PropertyPtnrsBG - or on Facebook
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Number of Bulgarian Properties Increases by 5.4%

The number of Bulgarian properties has risen over the past decade, according to the 2011 population and housing census.

The figures, published at the beginning of the last quarter by the Bulgarian National Statistical Institute, found that 5.4 per cent more homes exist now than in 2001. There are now 3.88 million houses in Bulgaria, compared with the 3.69 million mapped by the census 10 years ago.

The biggest rise in the number of homes has been seen in the regions of Bourgas and Varna because of the level of construction in the cities themselves, as well as the mass construction of holiday homes in the local resorts of Sunny Beach and Golden Sands.

The data also shows that 97.5 percent of Bulgarians own their homes, a significantly higher percentage than other European countries, where the ownership rate varies between 50 and 80 percent.

Perhaps the most interesting statistic, though, is that in 2011, 36723 foreigners were living permanently in Bulgaria, making up 0.5 percent of the country's population. The largest groups of foreign residents are: Russian (11991) and Ukrainian (3,064) citizens. However, European Union citizens account for 23 percent of all foreign residents – the largest groups being from the UK (2605) and Greece (1253).

The report forecasts that demand for houses in the big cities will remain stable over the next few years due to internal migration. Alongside this domestic demand, though, there remains a consistent interest from foreign investors in Bulgarian real estate, which will have the most impact on the purchase of holiday homes and rural properties.

"The increasing availability of properties in the cities and the resorts, combined with property prices that are currently the lowest in Europe is a highly attractive proposition for the wise investor .." says David Livingstone, CEO of MovetoBG.com. "The market has turned the corner through 2011 .." he continued ".. and we expect to see property purchases across all sectors rising as we head into 2012."

Related articles:
46% of Brits Considering Emigration as a Lifestyle Choice
Bulgaria a Top Choice for 46% of Brits Planning to Emigrate
Picking up a New Trend for Property Purchase in Bulgaria ..
Experts Agree that Property Market has Bottomed Out
Rising Property Sales Reported in Bulgaria
Bulgarian Property Prices Reach Their Baseline

Read more on our websites ...
MovetoBG.com - and Twitter @MovetoBG
Bulgaria Gateway - and Twitter @BulgariaGateway
Property Partners BG - and Twitter @PropertyPtnrsBG - or on Facebook
MakeYourMoneyGoFurther - and Twitter @MoneyGo Further - or on Facebook