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No Interest in Investing in Hotels
It is very quiet in the new market niche – that of sale of hotels. The supply of this type of properties increased after the number of tourists to Bulgaria decreased and the prices of accommodation and services dropped as a result of the crisis. Despite the optimistic forecasts for season 2010 the situation was not very good in the first quarter of the year, at some periods even showing worst results compared to last year.
At present all hotels are for sale if there is interest on the part of investors, commented experts from BusinessForSale.bg, part of the BULGARIAN PROPERTIES holding. According to local real estate agents what is specific about the Varna real estate market is that most hotel owners do not announce their sale officially. They are afraid that the information about the sale of the hotel might have a negative effect on the staff, which is insufficient anyway.
The fact that only in BusinessForSale.bg one will find 52 offers for sale of hotels 22 of which are at the seaside is indicative of the problems in the sector.
View all our offers for hotels in Bulgaria
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