Buyers are investing in holiday properties priced up to 30,000 Euro

The seaside properties in demand are mainly furnished apartments in operating complexes.

Real estate agents have been recording an increased interest in holiday properties. For the first half of 2012 the increase in deals in seaside resorts was about 20% compared to the same period last year, according to BULGARIAN PROPERTIES data. Most often deals are concluded at around 30,000 Euro.

In the Black Sea area buyers are interested mainly in furnished apartments in operating complexes, as the distance to the sea is not a key factor - they are ready to compromise in the case of a lower price and a bargain offer, agents said. But there is also a lot of interest in ski resorts as Bansko remains the most sought-after ski resort and Borovets is just entering the focus of potential buyers.

At the seaside the interest is focused mainly on the south coast of the Black sea - Sunny Beach, Pomorie, Ravda , etc. Most deals are with finished small apartments and studios with an area of up to 30-40 sq.m. The main buyers were Russians with modest budgets. There are deals with one-bedroom apartments as well, as most often buyers want the apartment to be furnished and up to 500 meters from the sea. According to property consultants prices are stabilizing and there will be no considerable decrease.

BULGARIAN PROPERTIES reported that in the last 6-8 months there was almost no change in the listing prices. The same applies to prices of actual concluded deals. Stabilization, the thing we have all been waiting for, is now a fact, the market is quiet, the supply is good and there are conditions for the conclusion of good deals, the company reported.

According to BULGARIAN PROPERTIES the main customers are still Russian-speaking. They make up over 90% of property buyers.

A dynamic third quarter is expected for the seaside resorts, the reasons for that being the summer season, the low prices of flights from Russia in August and September and the already registered many viewings in late summer and early autumn, BULGARIAN PROPERTIES said. The market is definitely gaining inertness and popularity among Russian buyers and this trend will continue in the coming months. No significant changes are expected in the holiday segment, but the increased volume of deals is surely a good sign and a prerequisite for its revival, the company added.

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