Register for updates


Bulgarian Property & Real Estate News

Bulgarian Properties Price Indexes for March 2012

At the end of the first quarter of this year, the Bulgarian Properties sales indexes revealed listing prices of the apartments in four key locations: Sunny Beach, Varna, Sofia, and Bansko. The purpose of these prices was to offer the latest information about the ongoing and new market trends in the Bulgarian property market. According to the company, its indexes have remained about the same levels since the last 6 months. Therefore, it considers this point to be a good indicator of stabilization for Bulgarian property for sale.

Starting with Sofia property, the index change in the month of Feb 2012 was 0.07%, while the change in last one year was +4.55%. Further, the change measured from the highest value came up to 41.44%. The current index value for the listing apartment prices in Sofia by Bulgarian Properties is 58.56 points as of March 2012. (The base point of the index was set at 100 in January 2008) Further, the average monthly listing price is 875 Euro per sq. m. This means you can buy Bulgaria property of 200 sq. m. offered by this company in the capital at an average of 175,000 Euro. However, it was found that many deals for Bulgaria property for sale were offered at an average price of 735 Euro per sq. m.

In Varna, the index change in the month of Feb 2012 was +1.01%, while the change measured in last one year was -6.75%. The change gauged from the highest value was -42.29%. Bulgarian Properties’ current index value for listing apartment prices in this second largest city is 57.71 points as of March 2012. Coming to the average monthly price listing, it is 860 Euro per sq. m. but the deals were settled at 800 Euro per sq. m. during the year’s first quarter.

Talking about the Sunny Beach, the index change in the month of Feb 2012 was -1.91%, while the change measured in last one year was -34.39%. The change gauged from the highest value was -49.72%. However, the company’s current index value for apartment prices in this area is 50.28 points as of March 2012. Considering that this is the largest beach resort area, it is surprising to know that the average monthly listing price is 665 Euro per sq. m. for apartments. This is truly less than the prices of the aforementioned cities. Even more surprising is the fact that the deals were finalized in the first quarter at an average price of 440 Euro per sq. m.

Coming to Bansko, the index change in the month of Feb 2012 was +9.95%, while the change measured in last one year was -29.05%. The change measured from the highest value was -52.76%. However, the current index value for apartment prices measured by Bulgarian Properties in this biggest ski resort is 47.24 points as of March 2012. Despite the fact that it is a famous ski resort, the average monthly listing price here is 605 Euro per sq. m. Even more shocking was the fact that the deals in the first quarter got completed here at an average price of 465 Euro per sq. m. Well, we can conclude that a really cheap property in Bulgaria is available at this skiing destination! If you are looking for other cheap Bulgarian property in ski areas you should also check out Borovets property. It also has some very good value ski properties for sale at the moment and is much closer to the capital Sofia than Bansko, thus offering a better investment potential. Borovets apartments are very popular all year round with wealthy Bulgarians living in Sofia. They often buy a holiday apartment in Borovets and visit there at the weekends and holidays.

Ski property for sale – things to consider when buying ski property

More and more people are now taking winter sports holidays and the demand for good quality rental accommodation is growing consistently. This offers a good opportunity for owners of ski properties to reap huge financial returns for their smart investments. These handsome returns are a source of great attraction for many players seeking to enter the market and get its share of success. However there are some factors that such an investor must take into consideration before taking the plunge.

First and foremost an investor must seek to dig his or her money in a venture that would attract returns. Thus the investor should enquire into how frequent the ski property would be rented. This is an important aspect of the business because without customers renting the ski property, the investment would be meaningless. The investor needs to ask himself questions such as, how many people are willing to rent ski apartments. Would a ski resort attract a bigger clientele?

An investor should also put into consideration other activities that can be done in the ski property or around it apart from skiing. This is because most skiing happens during winter and thus the facility should be made for some other use during warmer seasons. The physical landscape around skiing facilities is usually stunning during summer and thus attracts guests who are into fishing, water rafting, and mountain climbing and so on. Thus location of the ski property for sale, be it a ski apartment or a ski resort should offer many outdoor activities. Read more…

Bulgaria Property market 2012

Slightly more positive news is beginning to emerge from the Bulgaria property sector. Recent reports from several local real estate agents indicate that the is still life in the Bulgaria property market. Despite a difficult 3-4 years which saw a Bulgaria property crash due to over investment in several areas, local real estate agents Bulgarian Properties and Yavlena are predicting a better future for the Bulgaria property market.

Lately the Yavlena estate agency has reported that transaction level are up significantly in 2012 and investment deals have reached over €200 million. Recent sales show that Bulgaria property prices have stablised and are now beginning to over good value when yields and rental returns are considered.

The Bulgarian Properties agency has noted that higher end properties are doing better. During 2011 Bulgarian property prices continued to decline for lower end properties however the market for more exclusive luxury properties as held up better. In this sector of the Bulgaria property market the prices appear to have stabilized largely because there is a limited supply of suitable properties. In their recent Bulgaria real estate price reports they noted that properties in Bansko continue to decline due to oversupply in that area while chalets in Borovets and properties in Borovets ski resort are proving more resilient due to less supply and better quality.

The market of course has not returned to the glory days of 2008 when investors from all over Europe were clamoring to buy Bulgaria property. During the period 2003 to 2009 many overseas property investors considered Bulgarian property to be one of the investment hotspots in Eastern Europe. However when the global credit crisis hit in 2008 this had the effect of sucking a lot of cheap credit out the Bulgaria property market and thus effecting the price of Bulgarian properties for sale. Read more…

Bulgarian Properties for sale – 2012

Interest in Bulgarian property is again rising following several years of prices falls. Over the last 3 years prices for Bulgarian properties for sale and real estate sales have dropped about 35% over all. Prices falls have been higher in some areas but lower in others. Generally prices have held up better in areas with less supply. Investing in Bulgaria property is also becoming safer. Now a member of the EU a recent global report shows that property rights within Bulgaria are now on a par with other popular investments locations. Investors in Bulgarian real estate can be comfortable in the knowledge that they are protected by robust European laws. The Property Right Report highlighted that buying property in Bulgaria 2012 is now the safest it has ever been.

Bulgarian real estate agents are once again positive about the prospects for the real estate market in their country. A recent interview with the leading broker Bulgarian Properties shows that they are gradually seeing the return of foreign investors in Bulgaria. They highlight the Borovets ski resort as an area that is seeing increased demand at present. Despite falls of about 20% in the average price of Borovets property, buyers are again showing interest in the ski resort and snapping up properties and prices unlikely to be seen again soon. The prices for Borovets apartments now range from 550-1,100 euros per m2 down from 900-1,700 euros per m2 just 3 years at. At the current price levels finished apartment in Borovets are now cheaper than the construction costs reports Ms Stokova. Read more…

Bulgarian properties down but not out

The latest report from the Bulgarian Properties real estate agent in Sofia shows that prices for holiday properties across the country have dropped in 2011. The largest drops were in Sunny Beach and Bansko where prices are now less than 50% of the level they were in 2008. In terms of the ski resorts there is still a large over supply of properties in the Bansko area and this is forcing prices lower. Average prices in Bansko are now around 400-460 euros per m2 however there are still many properties available on the market so buyers must be cautious. Prices for Borovets properties are stronger as there is very little supply in the area.

UK holiday home purchasers have been replaced by Russians as the largest purchasers of Bulgarian holiday properties. Investors from Ukraine, Greece and Serbia are also showing interest in Bulgarian properties. Read more…

Review of Bulgarian ski properties in 2011

The latest research from Bulgarian Properties real estate agency shows that 2011 was a slow year for ski property sales. Sales in the Bansko are were particular slow and prices for apartment in Bansko have dropped over 20% in 2011 alone. There is still a large number of available properties on the Bansko market and this is going to depress both sales and rental for some time into the future.

The average sales price for apartments in Bansko during 2011 was 35,500 euros whereas in 2010 the average sales price was 44,000 euros representing a drop of almost 20% over the 12 month period. The average price per m2 was 500 euro/m2 in 2011 down from 650 euro/m2 in 2010. The majority of sales in the Bansko area came from buyers looking to purchase very cheap ski properties. The sales volumes also decreased relative to the previous year. Read more…

BenchMark Fund invests in development plot in Borovets ski resort

Real estate investment trust BenchMark Fund Estates has signed a preliminary contract for the purchase of a 9,000 m2 development plot in the Bulgarian ski resort Borovets. The company plans to build a luxury Bulgaria apartments complex with a total built-up area of approximately 12,000 m2. Building will begin within the next 3 months and should be finished by mid-2009.
Read more…

Borovets Property ranked as top location for ski property

The Bulgarian ski resort of Borovets is listed in 6th position in the Sunday Tribunes Top 10 property investments for 2008. Dubai ranks first on the list as one of the world’s fastest growing cities. Also included are: Ibiza, Poznan, Toulouse, Geneva, Orlando, London, Hurghada and Silver Coast. Bulgaria property has been one of the hottest property markets in Europe for the last couple of years. But in the haste to snap up a bargain, the Bulgarian property market in some parts of the country has become a little too crowded and overdeveloped. Read more…

Opening ceremony held for Super Borovets Project

The ski property project, known as Super Borovets, which is located in the beautiful Rila mountains, had its official opening ceremony last Monday after several years of delays. The large property investment project includes the areas of Samokov and Beli Iskar and also several locations near the Bugarian ski resort of Borovets. The Bulgarian PM Sergey Stanishev, former king Simeon Saxe-Coburg and the Omani prime minister Qaboos bin Said  all attended the opening event. The Omani government is one if the main investors in the project.

Read more…

Bulgarian investment project to include new motorway link with Sofia

Part of the Bulgarian property investment known as the Super Borovets project will be the construction of a new motorway to link Sofia with the Borovets ski resort in less than 40 minutes. The new Rila Highway will create a link between Sofia and Samokov and drastically reduce the travel time between the capital city and Bulgaria’s most popular ski resort. The news about the new motorway was announce by Simeon Peshov from Glabolgarstroy and Georgi Krumov one of the directors in the Equest Property Investment Fund which is leading the investment in the Super Borovets project. The motorway will be over 80km long and will link the Trakia, Hemus and Struma motorways going through the towns of Samokov and Vakarel.

The first level of the investment project will be based outside Samokov and includes a gondola lift to take skiers to the Markudjik ski pistes. The idea is that skiers from Sofia can use the new motorway to quickly arrive in Samokov, park their cars at the base of the gondola and be on the top of the ski resort in just 30 minutes.  Overall the project expects an investment of over 500 million euros to produce one of the most modern ski resorts in Europe.

Older Posts »
If you are looking for Bulgarian real estate or off plan property in Borovets look no further than Concept Bulgaria.
Links | Disclaimer