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Holiday Homes Still Fashionable in Bulgaria
Standstill in prices, entrepreneurs not worried.
Observations of the holiday homes market in Bulgaria for the first half of 2007 show that in some regions the number of new apartments has increased by 50%. Colliers International say that there were over 76 500 holiday properties on the market at the end of June. The sale prices (800 – 1,700 EUR/sq.m.) remain unaffected and the supply exceeds the demand. The number of new apartments along the Black Sea has risen by 39% in the first half of 2007 and the new apartments offered in the resorts are already 13,500. In the St. Vlas resort the rise in the prices is 52% (the holiday homes are sold between 590 and 2,500 EUR/sq.m.) and in Sozopol the prices are up by 62% (505 - 1,800 EUR/sq.m.). The apartments in Sunny Beach cost from 550 – 2,240 EUR/sq.m.
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