Bargain ski property in Bulgaria as prices fall by 50%

New figures have revealed that there is plenty of bargain property in Bulgaria available, particularly in the country’s biggest ski resort. New research has found that apartments in the resort of Bansko have fallen by half in just three years, making them extremely affordable to foreign buyers.

Ski property in Bulgaria half the price it was in 2008

The new report from Bulgarian Properties, a market analyst, has found that the price of apartments in Bansko have fallen in value by a massive 50 per cent since 2008. This has resulted in increased interest from buyers looking for affordable property, with the Move Channel recently reporting that Bulgaria had returned to the top ten destinations for online property searches.

The research found that in the first eight months of 2011, apartments in the ski resort of Bansko sold at an average price of 760 euros (£663) per square metre. However, after a ten per cent fall in values in May alone, the index value of Bansko Property is now at 51.31 – almost half that of November 2008, when the index value was at a peak of 100.

Bulgaria continues to attract interest from foreign buyers

The research also found that other types of property in Bulgaria had also seen reductions in prices over recent years. Beach property in Bulgaria has also seen major declines in prices, although nowhere near as steep as Bansko. Other reports report a decrease of just 22 per cent in house prices.

The International Business Times reports that ‘as the summer season ends and buyers begin to think of colder climates, Bulgaria continues to attract interest from property buyers.’ This is borne out by a recent Move Channel report that shows Bulgaria hanging on to its top ten spot in September’s poll of foreign property destinations searched for online.

View our DISCOUNTED PROPERTIES in Bulgaria

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