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Bulgaria Real Estate

The real estate in Bulgaria has over the past year gradually started to pick up. 2013 saw a slow increase, after a few turbulent years preceding this.

Now 2014, mainly due still to the continual invasion of Russians, and Bulgarian themselves the market is beginning to show an optimistic improvement. Russians already own a massive number of properties in Bulgaria, and seem to have a genuine interest in Bulgarian property and have continued to maintain interest in the country. Some are buying for a permanent living choice and making a new life, that is probably not too distant from that of Russia. Food and language are similar, but cost of living is cheaper.

Others Russians are buying holiday homes that offer good value for money to enjoy the coast and it beauty.
Bulgaria failed in the past with the saturation of over developments especially along the Black sea coast. But, in recent years the interest from the Russians has started to move the stockpile, mainly because Russians prefer newer developments rather than renovation projects.
In addition to the Russian interest, Bulgarian interest rates in the banks have gradually decreased, and so now wealthier Bulgarians with stable incomes and savings are beginning to transfer their funds and invest in Bulgaria and its real estate. Bulgarian buyers are mainly aiming to invest in sought after areas, including Sofia, Varna, Plovidv and Burgas. For most Bulgarians they see the real estate market a safer bet than the interest rates in the banks. So this is likely to help keep property prices stable, and even possibly cause a price rise in these specific areas.

The real estate market in Sofia has during the past few months gone from strength to strength, with a growth in investors buying in this ever developing and vibrant city. Other Bulgarian cities are also experiencing similar results this year, and noting a positive increase in interest from buyer's month on month. Varna, Burgas and Plovidv are all thriving cities, and have seen an increase in demand from buyers. Sunny Beach along the south Black sea coast is expected to witness an increase in buyers as the summer season opens and the holiday season begins.

To summarise for those selling property in Bulgaria forecasters now believe prices will stay relatively stable, and the housing market is expected to increase for 2014. For those wanting a quick sale you will possibly need to drop the price a little further, and aim to the Russians for a sale. The Russians expect a lot for their money, but are still big buyers in the real estate market of Bulgaria.