bulgarian bargains attracting buyers
News Posted On: 18 August 2011
Bulgaria looks as if it is becoming increasingly attractive for foreign property buyers, as prices are now at rock bottom. With the crisis in the Eurozone set to rumble on for quite some time, people are looking for bargain holiday homes, and Bulgaria is proving especially popular with those looking to buy winter property.
Even though official data from the country shows that residential property prices are still falling, most of this data relates to cities while overseas buyers tend to be more interested in coastal locations. The latest data from the National Statistics Institute shows that property prices have fallen by 6.4% during the last year, and by 1.6% during the last quarter. Twenty three regional cities also showed price declines during the last quarter, with prices down by 5.5% in the city of Veliko Turnovo, by 5.4% in Gabrovo, while prices in Plovdiv and Vidin fell by 4.7%.
Prices in the capital of Sofia fell by 2.1% during the second quarter, although prices in Varna showed a slight increase of 0.9%. However this data changes if you look at other price indexes, and in general property experts seem to agree that the residential property market here has begun to stabilise, albeit at a very slow rate.
The number of new houses for sale in the country has dropped by 26% during recent months, and although construction is picking up pace, the number of building permits issued is still low compared to levels before the economic downturn. According to The Move Channel, Bulgaria is now the seventh most popular property market in the world.
Bulgaria property for sale
Written by Les Calvert
Back to news articles for this country
Latest Related News Articles in Bulgaria
Slight Signs of Recovery in Bulgaria Property Market
2012-05-08
. This is based mainly on a Colliers International report that investment in the fourth quarter of l.....
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 .....