Property Prices in Bulgaria Continue Falling
Prices for investment properties in Bulgaria continue falling, with no end in sight at the moment. Particularly hard hit are the summer resorts of Sveti Vlas and Slunchev Briag (Sunny Beach), the largest summer resort on the Bulgarian Black Sea. In those luxury resorts, prices have fallen to such an extent that currently there are brand new three-bedroom "luxury" flats on offer for 70 000 euros. A similar fate has befallen the Alpine ski resort of Bansko, where new, completed modern apartments in 'key locations' are being offered for 70 000 euros.
Prices are already back to 2007 levels, and many expect the decline to continue. Estate agencies are closing left and right, and it is expected that more than 3,000 of Bulgaria's 5,000 registered estate agents will be out of business by the end of the year. This is in line with other investment markets that relied almost exclusively on foreign demand. In Spain, for example, 70% of all estate agencies have already closed. At what point does the decline make an interesting property investment? Like Spain, a recovery in Bulgaria appears a long way in the future, and there are social issues to consider. Most likely, any future recovery will depend on a recovery in the UK first.
Property Prices in Sveti Vlas continue to fall
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Comments on Property Prices in Bulgaria Continue Falling
Hello,
We often forget about Slovenia, a safe country to invest (and such a beautiful one!). Futhermore properties are still very affordable and the environment great.
The location makes Slovenia a great destination for Saling, skiing, mountain biking, hiking and also for the great food quality.
For example, here is a house in a vineyard at the top of a hill in Lendavaske gorice (east of Slovenia) for only 99 000 euros: lendava(.)webs(.)com.
Absolutely. Prices have come down quite considerably there also. I rarely cover that market. Do you think prices will continue falling?