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BULGARIAN PROPERTIES' Chief Operations Manager for Bulgaria On Air TV
For about a year the number of deals with holiday properties has increased by 30% year-on-year, and the buyers are mainly Russians, said BULGARIAN PROPERTIES' Chief Operations Manager Polina Stoykova.
"Because of the protests there have been short fluctuations in the market activity. Despite of this and the crisis, the attitudes and trends on the holiday property market are positive," said Polina Stoykova in Investbook broadcast of Bulgaria On Air TV channel.
According to her, in the middle of last year a new cycle of recovery has started, especially in the segment of beach properties. "Of course, the Russian buyers are the most interested. For about a year the number of transactions has increased by about 20-30%," she told.
"The prices in Sunny Beach region have remained their levels and we may say that there is a slightly noticeable growth. The difference comes likely from the fact that luxury properties are now being searched, but not necessarily the cheapest real estate,” Stoykova added.
She commented that buyers are buying properties for own use, but not for investment purposes, while most of the deals are financed with personal finds. Investment purchases are almost absent now and this model has not worked in other European countries with developed holiday property market," the expert explained.
“Initially we thought that the low prices and a lot of supply are the reason this segment to continue to develop as well. It turns out that leading is a thrill. Russians really like Bulgaria. The sea is very attractive factor for them,” said Stoykova.
According to her, the ski resorts lag behind in terms of demand. “We have seen an interest mainly from Russians in the ski resorts, but the volumes are much smaller. Prices have stabilized at around 350-400 Euro per square meter. This is probably the lowest price of a holiday home in Europe, “ BULGARIAN PROPERTIES' Chief Operations Manager added.
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