Real estate market in Sunny Beach,reduction of Russian Buyers
Sales of Bulgarian properties in Sunny Beach showed a sharp decline for the first time since the revival of the market when the main buyers was Russian. In the district there are two notary offices that suggest a 15 percent reduction of the deals with Russian on the real estate market.It is very hard to say if this reduction will continue and in the next 2014 or if Russian buyers in Bulgaria who bought this summer are yet to purchase and will do so later in Autumn 2013. Possibly many property buyers are holding off and waiting for reduction of the prices, or in the worst case –the most of the middle class Russian interest have already purchased, thus their share of the market demand has peaked and now will show slump.
Anyway, official statistic will be available at the beginning of 2014, when we can talk for real data.
For first time since 2008, property prices in Sunny Beach have remained stable. It is unknown how will be the prices comparing with this year. But if the property market shows stagnation, definitely the prices will start to go down.
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