bulgaria property badly bruised but alive
News Posted On: 23 July 2010
A recent report has revealed how Bulgarian banks are attempting to bring foreign buyers back to the country's property market, by making more loans available. The report said that the move has led to Russian buyers replacing Brits as the dominant force in the market.
Bulgaria has been one of the hardest hit markets of the downturn, when foreign demand collapsed, prices collapsed and this has left a stain on the market by proving the critics were right -- a stain that Bulgarian agents will find it hard to remove.
A big help would be to find a bottom in the price slide Bulgaria has experienced. According to the index of global estate agent Knight Frank in Q1, Bulgarian property prices were down over 17% in the space of a year.
However, the decline is showing signs of slowing. The first quarter index shows prices down over 4% in the 6 month period, and 2.3% in the quarter. Comparing that to the index in Q4 2009, we can see that prices fell 6% in the six month period, and 1.9% over the quarter. In that index prices were down over 26% on the year.
In all honesty it will probably be many years before Bulgaria sees anywhere near the level of foreign demand that it saw during the last boom. But the same is true of pretty much every country in the world; overseas property is very much driven by cycles.
View Bulgaria property for sale
Back to news articles for this country
Latest Related News Articles in Bulgaria
Bulgarian Bargains Attracting Buyers
2011-08-18
Bulgaria looks as if it is becoming increasingly attractive for foreign property buyers, as prices a.....
Bulgaria Entering Final Stage of Schengen Accession
2011-04-08
Bulgaria is entering the final stage of it’s accession to full Schengen membership.....
Bulgarian Property Market to Pick Up as Year Progresses
2011-01-28
Experts are predicting a revival in the fortunes of Bulgaria's residential property marketm at long .....
Bulgarian Property Back on Radar
2010-12-02
Bulgarian property, once cheap is now even cheaper, but research is essential as organised crime is .....
Bulgaria Economy Pops Head out of Recession in Q3
2010-11-15
According to the national statistics office Bulgarian GDP grew 0.2% year on year in Q3.....
Bulgaria Property Most Popular with Russian Buyers says 1 property dot ru
2010-10-19
The largest Russian language overseas property portal has revealed search data showing Bulgaria prop.....
Sofia Bulgaria Property Undervalued or is It?
2010-09-17
Global Property Guide have published a table showing Sofia property as highly undervalued compared t.....
Bulgaria Property Badly Bruised But Alive
2010-07-23
Bulgaria property has been one of the hardest hit in the world, but the rapid decline seems to be sl.....
Bulgarian Tourism Increase Good News for Property Market
2010-06-28
Rising tourism is good news for the Bulgarian property market, because it indicates that the damage .....
Bulgaria Gets its First Budget Flight from UK
2010-06-14
Ryanair has announced new flights to Bulgaria starting in September, to boost tourism and property m.....