NEWSLETTER

2012-03-14

15.03.2012 Holiday homes in Bulgaria 2012

Holiday homes in beach and ski resorts in Bulgaria were hit by the crisis earliest and probably the hardest. As a result they lost about 50% of their value compared to their peak value in 2008. At present the markets in Sunny Beach and Bansko are similar in terms of supply and prices, but for now Bansko lags behind in terms of interest from Russian buyers, who are the main players on the Bulgarian holiday home market.
With BULGARIAN PROPERTIES index value for Sunny Beach and Bansko of 100 in November 2008, in February 2012 the index values were 56 and 43 respectively.

Bansko, Borovets and Pamporovo
2011 was not a very successful year for holiday homes in the ski resorts. Property prices there fell considerably and since the beginning of 2012 the segment has been more dynamic and there has been more interest in buying properties.

According to BULGARIAN PROPERTIES’ data the average asking price of apartments in Bansko in February 2012 was 550 EUR/sq.m. as prices there start from about 350 EUR/sq.m. This is sure to attract the interest of potential buyers on the background of the high winter season. In 2012 the deals in Bansko are concluded at around 450 EUR/sq.m.

There is also more interest in the winter resort of Borovets where asking prices dropped by 18% in 2011 and now average asking prices of apartments are about 750-850 EUR/sq.m. However, deals are concluded at an average price of 600 EUR/sq.m.

The average asking price in the third largest ski resort on Bulgaria – Pamporovo – is 750 EUR/sq.m.

Sunny Beach
This year, like in the beginning of 2011, the beach property segment is quite dynamic and more deals are concluded there than in the ski resorts. This is due to the strong interest of Russian buyers in the Bulgarian beach resorts. According to BULGARIAN PROPERTIES’ data the average asking price of apartments in Sunny Beach in February 2012 was 667 EUR/sq.m. compared to 853 EUR/sq.m. in February 2011, which is much closer to the price at which deals are actually concluded (about 500 EUR/sq.m.).

Since 2010 the southern Black Sea coast, and the area of Sunny Beach in particular, has taken the lead in terms of number of deals in beach resorts. The deals in Sunny Beach in 2011 increased by about 20% compared to 2010 and prices dropped by about 6%. The average price of the Sunny Beach apartments bought in 2011 is 29,200 Euro compared to 36,500 in 2010. The average price of the concluded deals is 480 EUR/sq.m. compared to 510 EUR/sq.m. a year earlier.

---
Copyright: 2012 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. 2012

Share
Come for video viewings of properties in Bulgaria!
Only on our website you will find thousands of properties situated all around Bulgaria for which we have shot videos. Don't waste time, view them online - on your phone, laptop or tablet, at a convenient time and without the need for an inspection trip and personal visit. Welcome for video viewings with BULGARIAN PROPERTIES!
See More
Vitosha View - an exclusive residential development in Sofia
Vitosha View is a gated complex at the foothills of Vitosha Mountain. It offers urban environment combined with the home atmosphere and the greenery of a beautiful garden. Vitosha View enjoys an attractive location and is perfect for investment in the Bulgarian capital.
See More

More News

latest news
Market trends in Bulgaria at the start of the new season

We are slowly returning to our normal everyday lives and the Bulgarian property market is experiencing a growing demand and a rising volume of deals after the corona virus lockdown.

Here are the present market trends which mark the start of a new beginning for the property market in Bulgaria:

🔵 Technology stays with us to help us in the new reality! We will ne...

19 May, 2020
Press & Media
SeeNews: Sofia's avg housing prices up 4.0% in Q1

The average selling price of residential properties in Bulgaria's capital Sofia increased by 4.0% on an annual comparison basis in the first quarter of 2020, local company Bulgarian Properties said.

The average price of dwellings in Sofia reached 1,120 euro ($1,219) per sq m in the first quarter, the realtor said in a quarterly property market analysis published last week.
...

11 May, 2020
latest news
Prices in Sofia increase with 4% in Q1 2020

High activity during the first 3 months of the year and acceleration of the price growth to about 4% on an annual basis. This is how the real estate market in the Bulgarian capital of Sofia developed until mid-March, when the state of emergency was introduced and many economic activities where put on hold.

Average Prices and Annual Change

In the first quarter of 2020...

08 May, 2020
latest news
The Sun: Bulgaria’s Sunny Beach hopes to welcome tourists by July

BRITS could return to Bulgaria's Sunny Beach as soon as July as the country reduces its lockdown measures.

To encourage tourists, beaches will also offer free loungers, sun beds and tables when they open again for business.

Bulgaria has managed to keep coronavirus cases relatively low - the country has reported just 1,704 infections, and 50 deaths.

A st...

07 May, 2020

REQUEST DETAILS