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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…