Interest for rural houses mainly around large towns

Websites are flooded with offers for sale of rural houses at low prices, but the demand is weak and concentrated only in areas close to large cities. That said real estate agents.

"The main interest is focused on rural properties near major cities: Sofia, Varna, Burgas, Plovdiv, Stara Zagora and Veliko Tarnovo," Polina Stoykova, the Chief Operations Manager of BULGARIAN PROPERTIES said. There is also interest for properties in Yambol, where a lot of renovated country houses at bargain prices are offered.

Young families are interested in regulated plots in villages near cities, on which they want to build a house according to their own taste, "she added. The prices of rural houses vary widely ranging from 4,000 to 45,000 Euros depending on the area and their condition, while low prices are prevailing.

"The number of deals remains small and there is about 80% decline compared with the period before the crisis. The positive is that on the market there are a lot of quality and renovated country houses, which are sold at bargain prices," she said.

According to Polina Stoykova, the rural houses market is recovering difficultly from crisis as Britons, who were the main buyers earlier have retreated and the Russians, who are currently the main group of foreign buyers prefer the sea and holiday apartments there. However Russians are interested in country houses, but mostly around large and lively cities close to the beach.

"Currently the preferred houses are ready to move in, but without any extras at lower prices up to 30 000 Euro, Mladen Mitov, the real estate expert in other real estate agency said. "The houses are bought for temporary usage for spending holidays and weekends, rarely for permanent living. The market has a prospect, but all depends on prices," he predicted.

According to him, during the property boom a considerable amount of money have been invested in repairs of a large number of houses, which are being sold now. It will be not easy to find buyers for them, because their owners want much money. The demand is concentrated in settlements near towns, mainly where there is a good infrastructure and villages are not deserted.

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