Quest Bulgaria - Bulgaria travel, Bulgarian properties, living in Bulgaria

Wed01282015

Last update12:03:28 PM

A Visit to Slovenia The Invisible Country

A Visit to Slovenia The Invisible Country

It is a remarkable fact of life, how this little c...

A Look at Long Stay Visas and Retirement in Bulgaria

A Look at Long Stay Visas and Retirement in Bulgaria

If you will be traveling to Bulgaria for a long te...

A Guide to Taking Your Pets with you to Bulgaria

A Guide to Taking Your Pets with you to Bulgaria

If you are planning a move abroad to live in Bulga...

A Guide to Opening a Bank Account in Bulgaria

A Guide to Opening a Bank Account in Bulgaria

If you are moving abroad to live and take up emplo...

Black Sea Region Cruise Vacation

Black Sea Region Cruise Vacation

Travel and vacation in the Black Sea region and en...

A guide to financing your new home in Bulgaria

A guide to financing your new home in Bulgaria

If you are planning in purchasing some property ab...

Property

A Real Family Home

A Real Family Home

Recently attention has turned from investment and buy-to-let in Bulgaria to the traditional purpose ...

Read more

Sound Advice for a Sound Property

Sound Advice for a Sound Property

As the estate agent said, it has "lots of potential" but what should buyers consider when tackling a...

Read more

Lake Property In Bulgaria

Lake Property In Bulgaria

Bulgaria is home to many glacial lakes, most of which are located high in the Rila and Pirin Mountai...

Read more

Area Focus

Beautiful Borovets

Beautiful Borovets

Borovets lies on the northerly slope of the Rila Mountains at an altitude of 1350 m. It is Bulgaria'...

Read more

Hissarya, the Roman Spa Town

Hissarya, the Roman Spa Town

Nestled in a tiny valley in the border of the Sredna Gora Mountains, the pretty town of Hissarya oft...

Read more

Lifestyle

DIY Removals

DIY Removals

Moving has often been voted in one of the top five most stressful experiences. The obvious reasons f...

Read more

Pumpkin Banitsa

Pumpkin Banitsa

Banitsa is a popular, traditional pastry that is eaten for breakfast in Bulgaria. They can be either...

Read more

Working From Home in Bulgaria

Working From Home in Bulgaria

Working from home or at home is often the ideal solution for expats moving to Bulgaria. Unfortunatel...

Read more

Back You are here: Home Property Buying, Selling, Renting A Review Of The Bulgarian Property Market

A Review Of The Bulgarian Property Market

The Bulgarian real estate market is back in the top 10 for British buyers, the country is

at seventh place with 3.3% of all enquiries for July. Bulgaria re-paved a place in the top 10 for the most popular property markets in the world for British buyers in July, according to a new ranking. Data is based on the inquiries from the British web-site TheMoveChannel. 3.3% of the requests for the last month were aimed to the Bulgarian market, according to information from the site. This marks the return of the Bulgarian market in the 10 most popular international markets for the first time in three years. For the previous month the country has occupied the 11th place, yet the strong interest had already been registered.

The roster of the most popular locations remains unchanged. Spain tops the list for the second consecutive month. Along with the other traditional destinations - France, USA and Portugal, the leading countries represent over one third of all property searches from the side of buyers who are interested in buying a property outside the UK.

A study, conducted by "Bulgarian Properties" shows that prices in the first half of the year have fallen by 5% after a reduction of 10% in 2010. Another positive sign is the significant increase in the number of the transactions - 50%.

Construction of new homes has decreased by 26% during the recent months, but prices have fallen down by more than 6% in the second quarter of 2011, according to HomesGoFast.com.
Almost all real-estate deals on the Black Sea coast during the first half of this year include Russian buyers.

About 95% of the real-estate transactions on the Bulgarian Black Sea coast during the second quarter of this year are with Russians. Although demand is high, they prefer the lower priced apartments - between 20 000 and 40 000 euros.

Relatively optimistic are the forecasts for the development of the property market this year. Experts do not expect increases in the prices of houses and even reduction in the new construction's prices. The most positive in their expectations proved to be traders of agricultural land, awaiting activation of the segment after another two months.

The Black sea coast buyers are mainly looking for apartments at prices between 25 000 and 50 000 euros, as markets in Varna and Bourgas lag compared to that in Sofia.

Currently, property prices on the coast are some of the lowest for the last three years. The greatest interest was generated toward Sunny Beach, where supply was supreme, and the prices - between 400 and 850 per sq.m., depends on the property and its location.

Real estate agencies report less interest toward the resorts along the North Sea coast as well as South of Burgas, where prices are higher - above 800 euros per sq m.
There is a very slight increase in the prices in Varna compared to the previous year.

In Burgas it is cheaper to rent.For the last 12 months sales prices of homes in the town have fallen down with 10.06%, being the lowest for the last 5-6 years. The greatest decrease reported is in the prefab homes (16.34 %), followed by the old monolithic construction (12.24%) and the new one (8.87%).

Buyers are mainly looking for apartments with an area about 60 sq m., at a price between 25 000 and 40 000 euros.

Luxury real estate market stabilizes, and demand is oriented to houses at prices between 400 and 600 000 euros and to large apartments costing no more than 350 000 euros. However, in the past three years the depreciation marks values at 20-30%.

Properties labeled "luxury" are offered mainly in Sofia, Varna, Burgas and Plovdiv.

Article written by HOME POINT BG