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Property downsizing to Bulgaria

bulgarian property in the beautiful village of etaraAfter the impact of the global financial crisis, many are wondering how they can reduce their regular bills and live more simply next year. A number are considering downsizing their property, selling up in the UK, and buying a smaller property in Bulgaria, where not only is a home considerably cheaper but the cost of living significantly lower.

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Bulgaria Property Prices Become Realistic

realism in the bulgarian property marketEncouraging news is arriving for Bulgarian property. This comes along with data in the UK from more estate agents that house prices are slightly on the move, with the Halifax reporting a sixth successive increase since the massive low during spring.  Some Bulgarian banks have already reduced interest rates and the Government has called for a 3% plus reduction in mortgage rates. A few banks are lending up to 80% of the property price - not witnessed since summer last year, although stringent income and property criteria are still applied.

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Bulgarian Coastal Property Off The List

authentic bulgarian property most sought afterUpmarket towns and villages in Bulgaria are the smart property choice these days for buyers. Locations such as Sunny Beach and Golden Sands are off the radar of overseas property purchaers. Places which have previously seen as golden locations for retirement in the country are not as popular as they were. Rather, beautiful authentic towns are some of Bulgaria's most desirable locations. Increased concerns of over-building and the 'fish and chip' lifestyle, reminiscent of Spain are making Britons turn their backs on property along the Black Sea coastline.

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Abandoning Your Morals or Just The Property?

buyers are walking away from their debtsSome of those buying Bulgarian property are facing unpleasant choices. Indeed some purchasers are even walking away from the contracts they have signed and property they have bought. As talks of coming out of recession start, there are still many in serious financial difficulties as the crisis unravels on their personal circumstances. This includes off plan buyers of Bulgarian property where completion is due and now cannot raise the mortgage needed, buyers whose Bulgarian developers have delayed projects and holiday home owners keen to sell who can no longer sustain their mortgage repayments or personal financial situation back home.

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Bulgarian Off Plan Property Market in Bansko

off plan property market in bansko bulgariaThose who are in the midst of off plan property purchases in Bansko, Bulgaria, will welcome information from Bulgaria Property Action Group who are working with distressed property purchasers. With several developers unable to complete on their current off plan projects, buyers are being offered 'relocation packages'. In most cases the relocation offer will be a proposal to swap their current off-plan investment for a 'like-for-like' apartment in another development by the same developer, which is already built or which will complete.

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A Solution for Buyers and Sellers

permanent property swaps from or to bulgariaWith the slowing down of the worldwide property market over the last couple of years, many people have found themselves trapped in a home they are desperate to sell, and unable to move on to the next stage in their lives. Whether you have a home in the UK to sell and wish to buy in Bulgaria, or vice versa... What do you do in this all too familiar situation, where you have run out of options and viewers, and don't want to lower your asking price any further? Property swap of course!

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Bulgarian Property Prices: Bottoming Out?

property price falls slowing in bulgariaLatest analysis by experts and reported official data are revealing that property price falls in Bulgaria which started early this year are significantly slowing, potentially pointing to a bottoming out of the market by the end of the year. Is the recent slow down of price falls significant or is it a case of the old adage, "one swallow does not a summer make"? Prices in Sofia fell by some 6.88% in February, whereas there was a drop of only 3.84% in August. Rents showed the same trend, with May rents falling 2.8% over the previous month, yet in August the fall was only 0.6% compared with July.

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Value for Money Property

traditional houses in bulgaria hold their valueWith experts predicting that some economies are coming out of recession and Bulgarian property at an all time price-low, perhaps now is the time to consider buying property in the country. Prices in Bulgaria have considerably reduced over this year and property experts are saying that the market is bottoming out, offering potential purchasers enviably low prices for a slice of overseas sun. Off plan has fallen completely out of favour because of potential risks, with some developers being unable to complete projects.

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Review of the Bulgarian Property Market

property market review bulgariaWith all the global markets being badly hit, we take a look at the current situation for Bulgarian property and real estate. The six years before the crisis saw investors from all over the world scrabbling in their haste to grab a slice of the property pie and the rush was not much more furious anywhere than in Bulgaria. The number of properties sold these days has fallen and there is far lower demand, the effects of which are being seen all over Bulgaria. However, for buyers, prices are now incredibly low so, is this a time to buy?

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Bulgarian Property and Transparency

new legislation bulgarian property marketDnevnik reports on steps to improving transparency in property and real estate transactions in Bulgaria. The paper says that a public institution is to be established to handle money in property deals, although the legislation to set up the institution has yet to be passed. Dnevnik goes on to say that the system to be introduced is based on that which operates in France, where purchase funds will be sent to a central state-owned authority and subsequently transmitted to the vendor.

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