11.02.2010 BULGARIAN PROPERTIES: Offer Prices of Properties Are Still Falling

BULGARIAN PROPERTIES

According to the data of BULGARIAN PROPERTIES 18% of the active offers on the company’s site are with discounted prices as the trend from the beginning of 2010 is for sellers to actively decrease the prices of their offers. In the last quarter of 2009 the number of discounted offers didn't change much as sellers were unwilling to reduce the prices of their offers. To compare the number in June 2009 the discounted offers made up only 5% of the active offers in the company. This means that for a little more than a year there is an almost fourfold growth of the number of discounted properties. A large part of the new offers should also be added to this section as they are published at a lower price as the market demands it.

The average decrease of the offer prices is as follows:

• 20% - average for the country
• 17% - Sofia
• 14% - Varna
• 25% - Bansko
• 19% - Sunny Beach
• 15% - Bourgas
• 15% - Plovdiv
• 22% - rural properties

The decreases in the latest discounted properties on the company’s site is between 4 and 67%, the average decrease being 20%.

The reported decrease in the prices of the actual concluded deals of BULGARIAN PROPERTIES for 2009 compared to 2008 is 36%, i.e. there is still a discrepancy between the offer prices and the prices at which the deals are actually concluded by about 15%.

The additional discounts from the offer prices from June 2009 up to now vary between 4 and 7%.

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DISCOUNTED PROPERTIES

Has the Bulgarian property market reached the bottom?

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Copyright: 2010 Bulgarian Properties Ltd. All rights reserved. For further information or advice please contact us on tel.: +359 2 9 11 50 or e-mail: info@bulgarianproperties.com. The use of this article by third parties is allowed only with proper quotations of the source www.BulgarianProperties.com and the Author of the article. The data in this material has been collected by the Author and Bulgarian Properties Ltd. and is presented for information purposes only. We have made every effort to ensure the accuracy of the data. However, Bulgarian Properties Ltd. cannot be held responsible for loss or damage as a result of decisions made based on the information presented in this article.
© Bulgarian Properties Ltd. 2010

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