Prices of Bulgarian properties tipped to put up in Spring
Some analysis suggested that the property market in Bulgaria could begin soon to rise. During the past few years, since 2008 the residential building’s prices in Bulgaria have fallen with 40%. This reduce of the prices saw a large scale price drop which, in turn, encouraged many people from Bulgaria and abroad to consider properties in Bulgaria. Now, new research predicted that the real estate prices will go up again in spring time.
A report from Bulgarian National Television tipped the next few months of 2013 to see a rejuvenation, which will appeal to many investors, while it also highlighted where exactly the sales of Bulgarian properties taking place.
The most of the sales took places in the country’s capital Sofia, in the sea capital Varna, south Black Sea Coast Burgas, Veliko Tarnovo like a mountain region.
In Sofia, property buyers were increasingly looking to spend more on property, moving upwards from the 30 000EUR budget, which would typically buy a small one or two bedroom apartment.
Indeed, One of the fastest growing markets in Bulgaria currently is for three-bedroom apartments, which families in particular keen on thus sort of home.
The middle price for apartments that the property buyers are looking for is about 40 000EUR. Large three bedroom apartment can be found for the price between 60 000 and 80 000EUR.
More attractive are the renovated, resale properties which can be found at a price as much as 20 000EUR, sometimes and less. These are the properties located in a country side, villages. Cheap Renovated Bulgarian houses can be found and near the sea in Varna, Dobrich region with a price starting 2 2000 -25 000EUR.
The Globul Property Guide reported at the end of last year that the property prices in Bulgaria have fallen dramatically since 2008. This was the reason for appearing of many Bargain offers for investors.
The new research predict that the Bulgarian property prices are already rising. So now is the moment to take opportunity and buy one of these still cheap bargain properties.
Buying property in Europe from the other side of the world, presents all manner of difficulties, even before one factors in the current martial law in Philippines , and Brexit ( for a UK passport ) in Europe. I had previous experience of buying in Bulgaria, and already knew a number of local agents. Kunka, I came to know about a year before I finally managed to make the return... she admitted that the extraordinary set of circumstances I faced, took more than a little understanding, since they seemed unbelievable. Nonetheless, she neither flinched, nor blinked, and with utmost patience, helped me through not only the purchase, but a whole heap of other problems. Both she and Hristov were kindness itself, and always stood ready to assist. Not only were they very capable as agents, and professional in every way, but their assistance has been extremely welcome, given the immense difficulties faced. With experience of agents here and internationally, I'm happy to offer the highest of recommendations for their professionalism , help well beyond the terms of house purchase, and for their sincerity and friendship. Andrew Davies
— Andrew Davies, UK