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.
We would like to say a big THANKS to Kunka & Hristo from Bulgarian House team. You've been a great help to us, not only with the things involved with buying a house in Bulgaria, setting up a company and all the paperwork ect, but also when we've had other questions relating to life in general in Bulgaria we had no one else to ask but Kunka,. She's gone above & beyond her role as an estate agent, she must have bent over backwards to be as helpful as she possibly can & has kept us well informed every step of the way with regards to the sale. Thanks again, Kate & Mel xXx
— Kate & Melvin, UK