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Property Sellers Dropping Prices up to 20%

Prices of Bulgarian property are still on the decline mainly due to people anxious to sell a property.

Recent news updates from the Bulgarian real estate industry have reported that in many cases people with properties on the market are continuing to lower prices up to 20% in an attempt to sell. A local agent told Quest Bulgaria “In many cases money is tight and people often have finance on the property so they are desperate to find a buyer to prepay debts. The main interest is still from the Russians so therefore they have a good selection to choose from but mainly prefer the Black Sea Coast”.

The biggest price falls are in towns and villages in rural locations where prices in some cases are nearly half to what buyers originally paid. Village houses continue to offer buyers considering purchasing property in Bulgaria exceptional value. With a wide choice available and some as cheap as 4 000 Euros if you want the challenge of renovation. Alternatively if you do your homework there are plenty of bargain properties which have been renovated to a very high standard and on the market fully furnished for as low as 18 000 Euros!

Prices in the major cities are not falling as greatly and as quickly, as people are more cautious and not rushing into lowering the price.