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06.01.2011 Buyers from Belgium, South Africa and China Looking for Holiday Homes in Bulgaria

Klassa Daily, vol. 924, 06.01.11, excerpt

Buyers from Belgium, the Netherlands, South Africa, China, Ukraine, France, etc. are interested in holiday homes in Bulgaria, Mihail Chobanov – Managing Director of BULGARIAN PROPERTIES told Klassa Daily. He explained that there is still interest in Bulgarian holiday properties from Lithuanians and Estonians as he underscored that the main buyers are Russians and British, who like Bulgaria more and more and are considering moving here.

Mihail Chobanov commented that there is increased interest from many countries in the holiday home sector and that the range of buyers is wide.

Nevertheless, he noted that holiday home sellers are still selling according to their needs. There are properties equal in value which are sold at 400 EUR/sq.m., 800 EUR/sq.m. and even at 1,600 EUR/sq.m.

The best prices of this type of properties come from resale holiday homes which were bought at lower prices some years ago. Usually such deals are concluded with English and Irish who at present are selling their properties even with a small loss, the expert added.

Mr. Chobanov reported that in the last couple of months the company concluded deals with clients from more than 18 countries. He forecasts that the beginning of the year will be hard and that after the end of May there will be a gradual improvement in the sector. According to him the property boom years will never return.

According to experts in the branch there is also quite a lot of interest in properties on the part of Romanians as well. Most buyers along the southern Black Sea coast used to be British and now they are the biggest sellers. This area is very popular but the key to a sale is in price discounts.

In the resorts of Borovets, Pamporovo and Golden Sands there are very few deals because price there are still high, real estate agents say. According to them Bansko is a very popular property destination with investors as its location is wonderful.

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