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Analysis of the Bulgarian property market for 3Q 2012
For the first time in four years during the last few months the data of the property market are predominantly positive. They can be summarized as follows:
• Price stabilization and first timid attempts for increase, which indicate finding an equilibrium point and beginning of market recovery from the crisis.
• Increase in deals with beach holiday properties of about 30% - this trend was recorded in July and was additionally enhanced and confirmed in the following months.
• Rise of foreign demand, which has happened for the first time in such a tangible scale from the beginning of the crisis.
• Deals mainly with inexpensive (budget) apartments in Sofia - the average price of apartments sold during the third quarter was 48,400 Euro.
• Increase in deals with rural houses by 40% in the third quarter year-on-year making them the best-selling property on the market in last months.
• High interest in ski resorts and expectations for a great winter season in terms of sales mainly in Bansko, but also in Pamporovo and Borovets, where prices are already competitive.
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