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Analysis of the Bulgarian property market for 2Q 2012
The data of the property market in Bulgaria for 2Q 2012 shows continuing price stabilization, good supply of properties and similar number of concluded deals as the same period last year.
The second quarter was dynamic, with fluctuations in the number of deals. In April the market was quieter as this was followed by a dynamic month of May which recorded some of the highest number of deals since the beginning of the crisis. June was not as dynamic, as buyers focused their attention on the seaside resorts, which part of the typical annual cycle.
If we compare the prices to those from the first half of 2011 the price decrease is about 5% as this time last year the price drop was ongoing and it started to slow down at the end of 2011.
Highlights:
• Continuing stabilization in the first half of 2012 and positive trends in some market segments
• Deals mainly with inexpensive apartments in Sofia priced up to 50,000 euro
• Increase in deals with beach properties of about 20% year-on-year
• Interest in ski resorts continuing during the summer due to the low prices and bargain offers
• More dynamic rural house market mainly close to the big cities and close to the sea
• Bulgarians and Russians are still the main property buyers
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