Prices of holiday properties in Bulgaria continue to drop

The asking prices of holiday homes in the large resorts in Bulgaria continue to fall, an analysis of BULGARIAN PROPERTIES shows. Compared to the end of 2008 prices of apartments in Sunny Beach have decreased by about 45%. At the end of November 2011 the average asking price was 750 EUR/sq.m. and 51,400 Euro average asking price for an apartment. However, deals are concluded at 515 EUR/sq.m. or 32,400 Euro.

It is Russian clients who are most interested in beach properties and they find extremely good bargain offers of finished and furnished apartments that are ready to move in at prices up to 40,000 Euro. The Russians are the main buyers of holiday apartments (mainly beach apartments) in the last couple of years and this trend is to continue in the future, the analysis reads.

There is not a lot of optimism for the ski holiday homes either. Prices of properties in the largest ski resort in Bulgaria – Bansko, dropped by about 25% in the last year. To compare, the highest prices of Bansko properties were registered in 2008 and since then prices there have dropped by about 55%, BULGARIAN PROPERTIES say. The average asking price in Bansko in 2011 is about 715 EUR/sq.m. However, deals are concluded at an average of 500 EUR/sq.m.

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