The rural property market in Bulgaria: More deals with higher quality rural houses

2011-11-08   |  Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES

The number of deals with rural properties in 3Q 2011 remains the same as in the previous two quarters of the year so there are no significant changes in this market segment. The only difference is in the average price of the concluded deals which in the last three months is 20,450 Euro while in the first and second quarters of the year it was between 16,000 and 17,000 Euro. The difference in the prices comes from the more deals with higher quality rural houses that are ready to live in, mostly located close to the sea (near Bourgas and Varna) and close to the big cities of Plovdiv, Stara Zagora and Veliko Tarnovo. The purchased houses are priced between 15,000 and 45,000 Euro. The cheapest sold houses are in the area of Yambol and Elhovo where the average price is about 10,000 Euro but there are also offers for as low as 5,000 Euro.

The main buyers of rural houses – like with holiday properties – are the Russians. They look for houses that are ready to live in priced between 15,000 and 40,000 Euro which also explains the higher prices of the rural properties sold in the last few months. In contrast to a few years ago now there is a wide choice of quality rural houses at bargain prices. In fact, a few years ago the supply of such houses was very limited and now buyers have a lot to choose from.

The sellers are mainly Brits, which is another similarity with the holiday home segment. Many of the British owners are selling their properties at a loss after they had been offering them for 2-3 years and could not sell them at a higher price.

Average prices of rural properties sold by BULGARIAN PROPERTIES in 3Q 2011 as per region:

• Bourgas Region – 37,100 Euro
• Dobrich and Varna Region – 26,000 Euro
• Yambol Region – 9,600 Euro
• Stara Zagora Region – 14,500 Euro
• Plovdiv Region – 19,500 Euro
• Veliko Tarnovo Region – 23,500 Euro

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Copyright: 2011 Bulgarian Properties Ltd. All rights reserved. For further information or advice please contact us on tel.: +359 2 9 11 50 or e-mail: info@bulgarianproperties.com. The use of this article by third parties is allowed only with proper quotations of the source www.BulgarianProperties.com and the Author of the article. The data in this material has been collected by the Author and Bulgarian Properties Ltd. and is presented for information purposes only. We have made every effort to ensure the accuracy of the data. However, Bulgarian Properties Ltd. cannot be held responsible for loss or damage as a result of decisions made based on the information presented in this article.
© Bulgarian Properties Ltd. 2011.


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