Bulgarian properties have dropped in price by 5-10% during 2011 according to the latest data released this week. Most Bulgarian real estate brokers are predicting flat property prices for 2012 but with an increased number of property deals.
In Sofia the Bulgarian property prices remain around 920 euros/m2 which is reduced from 1100 euros/m2 in 2010.
Prices for Black sea coast properties are at an average of 860 euros/m2 while in the Bulgarian city of Plovdiv the average level is around 770 euros/m2. The Bulgarian properties in the ski resort of Bansko have suffered in excess of 25% falls during 2010. According to local Bansko real estate agents the market is very quiet and there is still a large over supply of properties both for sale and rental. Read more…