Bulgarian Property & Real Estate News

Is there hope for the Bulgaria Real Estate market?

According to the market analysis reports, in 2011, the property prices in the Bulgaria real estate market dropped by an average of 8% as against the drop of 8.3% in 2010. With this report, it was concluded that the decrease of the prices of real estate in Bulgaria is slowly decelerating. Therefore, the concerned agencies are in a hope that this trend will stop in 2012.

According to the survey of real estate agency Bulgarian Properties, this decrease in prices of the Bulgarian real estate for sale has attracted an increasing number of settled deals in the nation. The statistics reveal that this rise is almost of 15% considering the prices of 2010 as the base. In 2011, the paid average price for a one bedroom apartment in any of the big cities ranged from 20,000 to 60,000 Euro.

This Bulgaria real estate agency also surprisingly noticed that only the properties in the beach resort of Sveti Vlas have sustained relatively high prices despite the falling trend. To buy Bulgaria real estate in this area before three years, one had to pay even less than 1,000 euro per sq. m., but today, the prices are even higher than those in Varna and Sofia. According to the Chief Operations Manager of Bulgarian Properties, Polina Stoykova; Sveti Vlas has now become an exception as a resort with stable real estate prices.

She further commented that 2011 was not that good year for ski resort holiday homes, especially for those in Bansko, as the apartment prices since 2010 fell by 25%, which was significant. In 2011, the average price of the apartments sold in this area was 35,000 Euro, which was lower than the price of 42,800 Euro in 2010. Even the number of deals has decreased in 2011 for this area. She highlighted that prices for property in Borovets have held up much better due to the lack of development in the area and as a result a shortage of suitable properties for sale.

Polina also discussed about the rural Bulgaria real estate. She said that following stabilization in the interest for rustic options as well as a hike in the deals in 2010, the price levels were almost similar in 2011 with a minor fall in the number of sales. This was because the buyers were more interested in costly houses that were fully furbished to live in. As a result, there was a hike in the average prices of settled deals in most areas in 2011, particularly in the regions of Veliko Tarnovo and Varna. Cheap Bulgarian Properties in rural villages are no longer as popular as they were. This is due to the high cost of renovating and maintaining such properties. It is often cheaper in the long run to buy a newly completed property.

However, on the other hand, the prices of rural Bulgaria real estate in the areas of Stara Zagora and Bourgas have almost been identical to those in 2010. But in a few areas such as Yambol, Plovdiv, Pleven, and Kardzhali, the prices have dropped. This indicates that the interest in the rural properties of Northwestern Bulgaria is not that high. According to the Forton international, with 200 million Euro as the total volume, the nation has become one of the Europe’s Top 10 destinations for investment in 2011. Even the research shows that the investment deals in the continent increased by 7.8% in 2011. So, a wave of optimism has stated to show its effects on Bulgarian real estate prices.

Since the start of 2012 EU citizens have been able to purchase land and properties in Bulgaria without the need to setup a company. This has made the whole process for buying real estate in Bulgaria much easier and it is hoped that this will also increase the demand and sales.

Advice for buying ski chalets

If you plan to buy ski chalets, then you should read this article so that you will be able to come up with the best possible decisions. There are a lot of ski chalets for sale. As you know, buying a chalet is a long term investment. You will be able to use it personally and at the same time it can be a great source of income. The cost of ski properties is continuously rising over the years. Therefore, whatever your purpose of buying a ski property you will definitely enjoy a great advantage. Ideally, a person chooses to buy a ski property for personal use. However, throughout the years it can be a perfect income generating property. Not all people have the ability to buy a chalet. Hence if you own one, you can have it rented out.

There are a lot of chalets for sale. If you are searching for chalets for sale, the internet is the best place to be. If you want to buy ski apartments, there are also available ski apartments. In fact, the internet is offering multitudes of choices. Whether you are a ski enthusiasts or a businessman, you can definitely take advantage of ski properties. If you want your chalets to be rented, you can advertise it online. Most people who search for ski rental flood into the internet. There are different types of ski properties to choose from. The prices of the ski properties also vary. One great factor that can affect your choice is the budget. Through the internet, you will be able to find a ski property that would suit your needs.

At present the prices for ski chalets in Bulgaria is very competitive. Following the bubble years of 2004-2008 prices have dropped a lot recently and now it is possible to find chalets for sale in Bulgaria starting from just 100,000 euros. If you are looking for a chalet to renovate then you can find even cheaper properties in Bulgaria. Cheap village properties can be purchased for as little as 25,000 euros however you should be aware that the cost of renovation is often as expensive as a completely new build. Also with village properties the services and facilities expected by people who buy chalets are often available in these village locations. With prices for new build chalets and ski apartments at record lows we recommend that you focus on a modern chalet as it will be more comfortable and be easier to manage and maintain from abroad.

If you are looking for chalets for sale, choose the one that is more appealing to you. Skiers would definitely love to rent out the place if the ski property has an appealing ambiance. Choose the property that will give you a perfect location for skiing, but at the same time provides easy access to different amenities. The ski property should be close to nature, but not far enough for modernization. The choice of the property basically depends on your personal preference. If you are not personally using the place, you can open the place for rental. It would be a perfect source of income. You should also consider transport links. For chalets for sale in Bulgaria the best location is Borovets ski resort as this is the closest ski resort to the capital Sofia and closest to the main international airport. Distance to the airport is a very important factor for tourist travelling from abroad so if you intend to rent you ski chalet you need to consider this also.

Most ski enthusiasts do not just use the ski property just for their hobby. It is also a form of relaxation and stress reliever. So as much as possible, you should buy a ski property that has a relaxing ambiance. Try to find a location that is peaceful and surrounded by the beauty of the mountains. People who go on ski holiday tend to want to experience the real mountain nature and atmosphere. They do not want to feel like they are in a city. For this reason you should make sure that wherever you buy your ski chalet that the area is natural and not over developed. This way the people will be enticed to rent in times you are not personally using the place. The internet offers multitude of choices for ski chalets for sale. There are different styles and features of ski chalets. The price depends on the features and style. With a huge array of choices, you can certainly find a ski property that would suit your needs and budget. The ski property real estate is offering different types of mortgage choices for prospect ski property buyers.

Tagged in: Borovets ski resort, buy ski chalets, chalets for sale, ski apartments, ski properties, ski property

Bulgarian Properties Price Indexes for March 2012

At the end of the first quarter of this year, the Bulgarian Properties sales indexes revealed listing prices of the apartments in four key locations: Sunny Beach, Varna, Sofia, and Bansko. The purpose of these prices was to offer the latest information about the ongoing and new market trends in the Bulgarian property market. According to the company, its indexes have remained about the same levels since the last 6 months. Therefore, it considers this point to be a good indicator of stabilization for Bulgarian property for sale.

Starting with Sofia property, the index change in the month of Feb 2012 was 0.07%, while the change in last one year was +4.55%. Further, the change measured from the highest value came up to 41.44%. The current index value for the listing apartment prices in Sofia by Bulgarian Properties is 58.56 points as of March 2012. (The base point of the index was set at 100 in January 2008) Further, the average monthly listing price is 875 Euro per sq. m. This means you can buy Bulgaria property of 200 sq. m. offered by this company in the capital at an average of 175,000 Euro. However, it was found that many deals for Bulgaria property for sale were offered at an average price of 735 Euro per sq. m.

In Varna, the index change in the month of Feb 2012 was +1.01%, while the change measured in last one year was -6.75%. The change gauged from the highest value was -42.29%. Bulgarian Properties’ current index value for listing apartment prices in this second largest city is 57.71 points as of March 2012. Coming to the average monthly price listing, it is 860 Euro per sq. m. but the deals were settled at 800 Euro per sq. m. during the year’s first quarter.

Talking about the Sunny Beach, the index change in the month of Feb 2012 was -1.91%, while the change measured in last one year was -34.39%. The change gauged from the highest value was -49.72%. However, the company’s current index value for apartment prices in this area is 50.28 points as of March 2012. Considering that this is the largest beach resort area, it is surprising to know that the average monthly listing price is 665 Euro per sq. m. for apartments. This is truly less than the prices of the aforementioned cities. Even more surprising is the fact that the deals were finalized in the first quarter at an average price of 440 Euro per sq. m.

Coming to Bansko, the index change in the month of Feb 2012 was +9.95%, while the change measured in last one year was -29.05%. The change measured from the highest value was -52.76%. However, the current index value for apartment prices measured by Bulgarian Properties in this biggest ski resort is 47.24 points as of March 2012. Despite the fact that it is a famous ski resort, the average monthly listing price here is 605 Euro per sq. m. Even more shocking was the fact that the deals in the first quarter got completed here at an average price of 465 Euro per sq. m. Well, we can conclude that a really cheap property in Bulgaria is available at this skiing destination! If you are looking for other cheap Bulgarian property in ski areas you should also check out Borovets property. It also has some very good value ski properties for sale at the moment and is much closer to the capital Sofia than Bansko, thus offering a better investment potential. Borovets apartments are very popular all year round with wealthy Bulgarians living in Sofia. They often buy a holiday apartment in Borovets and visit there at the weekends and holidays.

Tagged in: bansko ski apartment, borovets apartments, Borovets Property, Bulgarian properties, ski property, sofia property

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