BULGARIAN PROPERTIES Managers Discuss the Bulgarian Holiday Home Market on National Television

BULGARIAN PROPERTIES’ Managers Polina Stoykova and Victor Vucheliyski commented the holiday home market in Bulgaria on national TV channel PRO.BG on 2nd November 2010.

According to experts the data for the winter tourist season in Bulgaria are optimistic but according to the report the data for the holiday home market is contradictory.

Happy tourists are the greatest advertisement for Bulgaria. The holiday home market will become more dynamic when people who come to Bulgaria will want to own a second home here. The good infrastructure is very important and at the moment the construction of main highways is a priority to the government.

According to the report at present the trends on the holiday home market in Bulgaria are not very optimistic. The traditional buyers retrieved from the market and big investors put their projects on hold. In some cases a second home in Bulgaria can even be bought under the cost price. Prices in some holiday developments collapsed by as much as 70%. These low prices led to the concluding of deals this summer season.

Polina Stoykova commented the situation with beach properties in Bulgaria: “Average prices of beach properties continue to be between 350 and 700 EUR/sq.m. as according to the data of BULGARIAN PROPERTIES the average price of the sold apartments is 38 000 Euro.”

Regarding ski properties the main buyers continue to be the Russians as in the ski resorts they look for fully finished apartments with an option for renting them out to tourists.

Regarding properties in winter resorts in Bulgaria Victor Vucheliyski said that the properties in the good developments maintain higher prices and their owners/investors do not want to reduce them drastically. According to him there is a minimal price of about 700-750 EUR/sq.m. in the well working complexes with good management and a lot of extras.

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