Great time to buy a winter bargain
Reports are coming in from estate agents that the prices of Bulgarian winter and ski properties are falling fast.
With a downward sloping demand for these fully furnished properties, prices have fallen in each of the three main winter resorts, meaning that now is the ideal time to buy. The prices have fallen by a fifth over the last few months, however the properties are still failing to attract buyers.
According to Bulgarian Properties, a leading estate agency, the average price for one of these properties in the biggest resort of Bansko is €27,000 (£23,670). The rough price per square metre has fallen to £403 from £513 three months ago.
Due to a lack of interest, many vendors are selling for up to a 60% loss, if they have to sell quickly, as this is the only price band that attracts demand and means they can secure a sale. Apartments in the Rila Mountains have also fallen, with the average price just £32,440.
Novinite, a Bulgarian newspaper, have reported that the resort of Pamporovo in the Rhodope Mountains has seen almost no interest from buyers at all. Elsewhere in Bulgaria, rural property has remained steady and village property prices have fallen by around 6%.
To understand the full step-by-step process to buying a property in Bulgaria, collect The Overseas Guides Company’s ‘Bulgaria Property Buying Guide’
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