Quality rural houses on offer in Bulgaria, prices back to 2006 levels

The average price of the rural houses BULGARIAN PROPERTIES sold since the beginning of 2012 is 15,500 Euro, while for the same period last year it was 18,900 Euro. The price remains similar to that in the last quarter of 2011 - 15,600 Euro. In the last couple of months there are fewer deals with rural properties compared to the beginning of 2011 which is mainly due to the harsh winter weather.

Most deals are with rural houses priced between 10,000 and 20,000 Euro but there is also interest in more expensive houses that are ready to live in, located close to the resorts and the big cities. It is rural houses in the seaside regions – around Bourgas, Varna and Dobrich and in the villages in Central Bulgaria – close to the towns of Veliko Tarnovo, Stara Zagora and Plovdiv that attract most the interest of the buyers. Russians are the most active buyers on the market but there are also quite a few Bulgarians interested in buying a rural house and at present there are many good offers, mostly resales from foreign owners.

In the last few years the number of deals with rural properties fell considerably – now they are 5-6 times less compared to the peak period in 2004-2005 and currently their prices are similar to those in 2006. At present the rural houses on the market are of a much better quality. There are many houses repaired and renovated to a high standard that are ready to live in, which means that now there are rural properties of a higher quality at prices similar to those in 2006 – this is something buyers notice and take into consideration. Our forecast is that the rural property market will remain similar to that in the last 2 years.

In general, in the beginning of 2012 we are witnessing a trend showing a number of deals similar to that in the beginning of 2011.

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