According to the latest reports, the value of the Bulgarian properties has dropped by approximately 50% after rising in 2008. This also includes the most demanded Bulgarian property types such as ski resorts and beach resorts.
According to the COM, the ski resort of Borovets has witnessed a hike in the demand from the investors even after the fall of prices by 18% on an average in 2011. Furthermore, one more place on the radar in the Sunny Beach that is nestled on the Black Sea shore. This is another place that is attracting the hunters for investing in property in Bulgaria. These are actually Russian buyers who are contributing a lot to sustain holiday home market
Even the price of a country home, another Bulgarian property for sale, has fallen to levels that were last observed in 2006. Bulgarian Properties that is the most prominent estate agency have revealed that since 2012, the rural properties are sold for only €15,500 on an average, which is considerably lower than €18,900, the price for the same period in 2011. The estate agency added that this lowered price for rural Bulgaria property for sale was identical to the mean price that prevailed in the 2011’s last quarter. Nowadays, one can easily buy Bulgaria property in rural areas just for a price that ranges from €10,000 to €20,000. However, it cannot be denied that a significant demand is also there for costlier houses, especially the ones that are near to a resort or a town.
The COM explained that the rural houses of the modern times are of higher quality. A majority of these properties has been refurbished to meet the high standards so that people can live in with maximum comfort. However, they are now offered at the prices of 2006, which make them good value for money. Bulgarian Properties said that the rural houses in and around the coastal regions, including Varna, Bourgas, and Dobrich; in the central Bulgaria villages; and near the cities of Veliko Tarnovo, Plovdiv, and Stara Zagora are pulling more buyers.
The latest trend is that despite ongoing falls in real estate values, a few areas are attracting the overseas property buyers. On this, the company agent explained that this is perhaps the outcome of the improved property rights in the nation. Moreover, the nation is now looked upon as a safer destination for buying houses. This is because more protection is now being provided to the property buyers in the nation.
According to the 2012 report from the Market Economy’s Index Property Rights, in the list of protection level of physical property offered in over 120 nations of the world, Bulgaria grabs the 62nd rank for obtaining 5.4/10. This is actually an improvement because the same score was only 4.9 in the year 2007. So, Bulgarian Properties have accepted that the properties in the country are safer and more affordable than before.