property abroad in bulgaria returns to 2007 prices
News Posted On: 08 April 2009
House prices in Bulgaria are becoming more affordable to those who wish to buy property abroad in the country.
Statistics from the Raiffeisen Real Estate agency showed that property values in the eastern European nation are comparable to those recorded in 2007, Property Wire reports.
Although this could put off investment buyers who hope to generate wealth by capital appreciation, this could be good news for people who are purchasing for lifestyle reasons.
Indeed, agency manager Strahil Ivanov said house prices are expected to continue dropping over the coming months, which he believes could attract interest among bargain hunters.
"The Bulgarian real estate market has hit rock bottom and will not recover any time soon," he added.
Meanwhile, the BuyAssociation website has highlighted Sofia as one of the main hotspots among overseas property buyers.
According to the online portal, the focus has shifted towards the Bulgarian capital away from areas such as the Black Sea coast.
Written by Jamie Arthur
Property Abroad - for your overseas mortgages, buyers guides and the latest news on buying property in Bulgaria
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