BULGARIAN PROPERTIES Publish Their Real Estate Market Analysis 1Q 2011

The stabilization on the Bulgarian property market which started in the middle of 2010 continued in the first quarter of 2011. The increase in sales is still small – only 3% compared to 1Q of 2010, but the first positive signal comes from the market in Sofia, where according to the data of BULGARIAN PROPERTIES property sales doubled compared to the same period last year.

Highlights:

• Increase in the overall number of sales by 3% compared to 1Q 2010
• Retention of property prices in the capital Sofia, similar to those from the second half of 2010
• Decrease in average prices in Bansko by 10% and even more in the other ski resorts in Bulgaria and lack of interest in properties in the ski resorts
• Retention of property prices along the southern Bulgarian Black Sea coast and an increase in the number of concluded deals compared to the same period last year, the main buyers being Russians and from Russian speaking countries
• Partial return of British buyers looking for cheap rural houses and holiday homes
• Overall decrease in the sales of rural properties but a more dynamic market of more expensive rural houses ready to live in

The main property buyers continue to be Bulgarians and Russians as Bulgarians are active mostly on the market in Sofia and the other big cities and the Russians – in the beach resorts. In February British buyers started returning as they choose mostly cheap rural houses and discounted holiday apartments in Bansko and in beach resorts priced up to 20,000 Euro.

If you wish to receive on your e-mail the full analysis of the property market in Bulgaria 1Q 2011 click here

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