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The Crisis Didn’t Bypass Rural Properties in Bulgaria
The data of BULGARIAN PROPERTIES based on actual concluded deals with rural properties in 2009 show that compared to 2008 their prices have decreased by 53% and the interest toward them is slowly returning. The beginning of 2009 saw a decrease in rural property prices, which was the first in the last few years.
In the last few years rural property prices increased steadily as in 2008 the average price rose by 24% compared to 2007 despite the decrease in sales by 43.5%.
BULGARIAN PROPERTIES’ 2009 analyses showed as early as March 2009 that the average price of rural properties decreased by 40% compared to the average price in 2008 and the drop in sales continued till the end of April 2009 and reached 55% compared to the same period of 2008.
May 2009 brought change to the property market which became more dynamic due to the decreased prices which reflected on the rural property segment as well. From May till the end of August the average price of the concluded deals continued to decrease and was 33% lower compared to the period January-April 2009 while the number of deals increased by 35%. The data shows the direct connection between the decrease in prices and the increase in the interest on the part of the buyers.
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