Comments on: Bulgarian Property Bubble Bursts

By: lubo

lubo — Tue, 16 Dec 2008 14:49:00 +0000

about “free apartment” please see the link: http://www.iht.com/articles/2008/12/03/properties/retwofer.php
the company is PJD construction.
The apartments are near Kamchia river resort just 18km south from Varna town/Black sea coast/
I also have some plots there.

By: Mark Knowles

Mark Knowles — Mon, 10 Nov 2008 15:41:05 +0000

Jeanette – I agree , but I don’t think you can separate the two. It is just that the general housing market has not caught up yet. With this many un-finished and back-on-the market apartments available, it will affect the entire market. It is not just Bulgaria either. I can sell you entire apartment complexes at 20% of their two years ago value all over Eastern Europe.

By: Jeanette Roots

Jeanette Roots — Sun, 09 Nov 2008 15:14:30 +0000

As a property house owner in Bulgaria, It’s the apartment market that the bottom has fallen out of and not the actual housing market.
There are literally thousands upon thousands of unfinished apartments flooding the market at the moment and that where the trouble is.

By: Mark Knowles

Mark Knowles — Wed, 05 Nov 2008 14:38:26 +0000

Doesn’t surprise me. The Bulgarian market is 100% based on foreign buyers and speculators.

By: Elisabeth Sowerbutts

Elisabeth Sowerbutts — Wed, 05 Nov 2008 13:18:08 +0000

I understand that there is a property being advertised in Eire, with a free Bulgarian holiday property thrown into the deal! Pretty much sums it up really, you can’t have a property market which is completely disconnected to the actual country!