Bulgarian Property Prices

2018-01-07 - 13:03 | News | Tags: |

According to the National Institute of Statistics of Bulgaria, lowering prices in some sectors of the real estate market in Bulgaria started in the last months of 2008 – in some areas of Bulgaria, the price of less interesting real estate declined by 4-15%. Prices are more expensive and high-quality facilities have stopped. Despite the financial crisis, the average price for property in Bulgaria more than 1000 per sq.m. How it all began The most rapid growth rates property prices in Bulgaria was from 2005 to 2007 – 37% in 2005, 16, and 27% in 2006 and 2007. respectively. Unprecedented rise in prices for finished property and construction boom have contributed to the expectations of European and Russian investors entry Bulgaria into the European Union and as a result – the rapid demand for various sectors of the Bulgarian property market. The greatest demand at home on the coast of Bulgaria.

Foreign direct investment in real estate sector Property in Bulgaria rose from 13.4 million euros in 2001 to 2.3 billion euros in 2007. The financial crisis Crisis could not affect such an interesting market for investors, real estate market in Bulgaria. Some construction projects have been frozen Least successful real estate agencies have declared themselves bankrupt and closed down (by some estimates – about 5% of the total mass of real estate agencies were closed). Taking into account the fact that almost every fourth house was purchased a British citizen, and a large enough share of buyers were from the Russian Federation – problems in the economy of Britain, the decline in energy prices (and Russia – the state raw materials) led reduced demand for these investors. Some of the projects targeted at foreign investors, have been frozen or stopped. Forecasts Obvious advantages for investing in property in Bulgaria can be considered that the fact that now in Bulgaria you can watch 'buyer's market', ie potential owner has such advantages as: a large selection of objects and the possibility of bargaining. In summary, we note – the seaside in Bulgaria as the most interesting period of expansion, direction, and actively built up now, and far-sighted investor has the opportunity to invest in property in one of the many complex under construction on the coast Bulgaria. The crisis is always followed by a new phase of development, successful investments!