Call
Send Email
Messenger
WhatsApp
Over 20% increase in property deals in 2011
The deals with agricultural land boosted the property market in 2011, commented Polina Stoykova – Chief Operations Manager of BULGARIAN PROPERTIES, for the Capital program of Radio Dobrudzha. According to her it is the deals with agricultural land that are at the base of the reported growth last year. The increase is about 22% compared to 2010, Ms Stoykova noted. However, she explained that this market segment attracts mainly bigger investors like tenant farmers or funds.
At the same time there is a drop in apartment prices, as according to the data of the National Statistical Institute (NSI) the average drop is 6%. The most expensive are still apartments in Sofia and Varna – an average of 750 EUR/sq.m. At present the main buyers are Bulgarian, while Russians are interested in apartments along the Black Sea coast. In the smaller towns the demand is low. The average price in smaller settlements is about 250 EUR/sq.m. as deals are mainly concluded for properties up to 25,000 Euro. Dobrich remains in Varna’s shadow. There is no big demand for residential properties there. That is why property prices in Dobrich dropped by 10%, Polina Stoykova added. According to her there is a slight increase in the interest in rural properties.
There is no interest in buying office or commercial areas as it is much more profitable to rent them, she explained. According to her although the mortgage loan is one of the main drivers of the real estate market, in the last few years people are reluctant to take out a loan due to insecurity.
View our DISCOUNTED PROPERTIES
Read more news
More News
Spring is here, bringing new opportunities in the real estate market!
March was a month full of property transactions, reinforcing market activity and allowing us to successfully conclude the first quarter of the year. We witnessed significant movement not only in the major cities but also in our favorite seaside and ski resorts. Additionally, the season for buying rural houses is i...
We are proud to announce the opening of our new office in the city of Dupnitsa, located at Knyaz Boris I Street, No. 1, Floor 1.
This strategic move is part of our mission to be as close as possible to our customers and to provide high quality local service for both buyers and sellers.
In our new office, clients will be able to take advantage of the ful...
In a series of materials, we present you with useful information on how to best prepare your home for viewings and how to determine the right price of your property.
Here we will focus on the heart of the transaction. Buying and selling real estate often seems a complicated and cumbersome procedure, requiring a number of documents and communication with various institutions. And buy...
When deciding, or even just considering listing a property for sale, our first question is often: What price should I be looking for my property.
Every homeowner is probably trying to do their own mini market research. They look at the listings in their area, read the latest statistics on property transactions, turn to an agency to get an idea of what they can get.
Ve...
