Residential apartment prices in Bulgaria have settled around the same price level as last year, but the number of Bulgaria apartment sales has actually started to increase.
Reporting from the Bulgarian National Radio shows that the market for Bulgaria apartments is mainly from buyers interested in apartments priced between EUR 45 000 and EUR 70 000.
Russian buyers are the main investors active in the Bulgarian apartment sector at the moment. The are attracted by the reduced prices and the fact that Bulgarians speak a similar language.
Bulgaria real estate experts say that the apartment sector has not fully recovered from the crisis of 2008-2009, but there is a limited supply of 2-room and 3-room Bulgarian apartments for sale and this is driving up prices. At present the Russian buyers are focusing their property searches mostly on apartments in Bulgaria’s Black Sea coastal regions.
While Russian make up the largest foreign group investing in Bulgarian apartments there is growing demand of other countries such as Turkey and Greece.