Bulgaria's holiday property market in 2007 driven by Russian buyers
Prices of holiday estates in Bulgaria's mountain resorts increased by 10 per cent in the period 2006 – 2007. The supply/demand ratio remained the same, Green Life Property Development research said, so ensuring a smooth development of the market during the new winter season.However, interest in holiday real estates in Bulgaria from UK buyers has decreased by 70 per cent. This is mainly due to the mortgage crisis in the USA and Europe. The downward trend affected the world market as a whole and not only Bulgaria.
The holiday real properties market in Bulgaria has also been undermined by various stories about over-construction in resorts.
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