Polina Stoykova for Bloomberg TV: Settlements Near Resorts Attract Buyers With Low Prices

BULGARIAN PROPERTIES CEO Polina Stoykova was a special guest in Bloomberg TV Bulgaria "In Development". See what she shared about the current trends in the holiday property market at the end of the winter and the peak of the summer season in a conversation with the host Delian Petrishky.

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It is natural for the villages near the big resorts to attract the interest of the buyers with their low prices.

"There is construction around Sunny Beach to the villages of Kosharitsa, Tankovo. There are also gated complexes of houses or small complexes with blocks. Over the years, they have attracted not too small interest, as prices are very good - they can be around 300-350 Euro per square meter. In Bansko, in the area around the golf course, there are offer prices for about 200-250 Euro per square meter. Borovets is similar - about 350 Euro per square meter. Sometimes, prices in satellite settlements, which are 10-15 kilometers away from the resort's main attraction, may be lower by 40-50%. "

This year's trends are to have a boosted interest in the seaside area, coming to a large extent by Bulgarian buyers.
"This is a process that has been going on for the past 1-2 years, but in the summer we may see its materialization as the Bulgarians have been researching last summer and now will be more interested in the seaside properties. From the statistics of the Registry Agency it can be noted that after the withdrawal of the Russians, the transactions in the seaside region dropped for 2-3 years. Since the end of last year, the decline has been halted, and in the first quarter of the year, there is growth in Nessebar, which includes the Sunny Beach area, 26% on an annual basis compared to the first quarter of 2017 ".

According to the expert, a similar process has been taking place in the ski resorts since mid-last year.

"We saw the growth in Bansko, Razlog, Samokov, and Smolyan. All three Registry Agencies noted growths that we now see to be continuing to the seaside. "

Traditionally the interest for buying properties in the Sunny Beach area and the southern resorts comes from the summer resorts, while from the winter resorts the interest is towards Borovets, where the availability is running very low.

"Less offers go on the market and the prices are rising accordingly. For the first three months of the year, the prices exceeded 700 Euro per square meter. "

Polina Stoykova outlined one of the main problems of the holiday property market in Bulgaria:

"We are very active in advertising Bulgaria. We manage to attract interest in Bulgaria, we have the goods, the resorts, and the weather conditions. But we do not seem to be able to achieve lasting positioning. Some nationalities show interest during a certain period and in the next one they disappear and are replaced by others. This does not lead to lasting growth. Perhaps more focused advertising at a national level would be beneficial to attract foreign buyers and investors, as we see successful examples with Spain, Portugal, and Turkey. This goes hand in hand with the development of tourism, as it first comes to tourism, and then it is purchasing. "

See the full material and video on Bloomberg TV website

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