Bulgarian Property market stabilized
Property market in Bulgaria was still far from the peaks reached at the height of the real estate boom in 2007. It appears to have bottomed out. The numbers of Bulgarian property transactions in 2011 was up by 22% compared to the previous year. The most of the deals have been with agricultural land, according to real estate consultancy firm BULGARIAN HOUSE LTD.A positive development was the decrease in the annualized interest rate charged by banks for mortgages, in particular those leva, which now were on the same level as interest rates on mortgage in EUR. Most prospective customers seek real estates in the low price range, defined by Bulgarian House Ltd as 20 000 to 50 000EUR, mainly in Ski and sea Resorts in Bansko, Borovets, Varna, Golden Sands. The other customers search village houses with price range 15000-20 000EUR for renovated house and 5 000-10, 000Eur for none renovated.
Bulgarian Property prices had stabilized. The strong drop in prices over the previous several years have made certain properties in Bulgaria’s winter and seaside resorts attractive with Russian buyers in particular active in purchasing real estate on the Black Sea coast.
Highly recommend this company and big thanks to Kiki. We’ve looked at many houses and finally found exactly what we were looking for. Kiki was very patient with us, showing us many places on the same day and made the whole process easy for us. She shared a lot of details which we found super helpful being first time buyers in Bulgaria. She has a lot of knowledge of the areas/neighbourhoods and can advise you accordingly depending on what you’re after. If you’re looking to buy a place in Bulgaria this is the company to trust ??????????
— Kate van Schalkwyk, United Kingdom