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Year-round foreign demand for village houses in Bulgaria
The Sofia Echo, 13th July 2006
Latest investment property market tendencies revealed that the sales of
village houses was no longer dependent on the season.
Usually the demand for houses in villages was higher during the
summer, 24 Chassa newspaper wrote. Over the past few years the
real estate market registered a steady year-round supply and demand
for such property. The majority of the investorswere foreigners,
mainly British and Irish.
The number of houses on sale increases as owners of the houses
hope for profitable deals with foreign buyers. Recently Bulgarian
real estate owners explored ways to attract investors from other
countries, including Scandinavian countries. According to imot.bg
at present Bulgarian villages offered over 6 000 village houses
for sale. The supply was highest in the coastal regions near Bourgas
and Varna.
The large supply in the Bourgas region led to a 16 per cent decrease
in real estate prices since the beginning of 2006. Varna, which
offers a smaller number of houses, registered a six per cent increase
of property prices.
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