Bargain ski property in Bulgaria as prices fall by 50%
Thursday 22nd of September 2011
New figures have revealed that there is
plenty of bargain property in
Ski property
in Bulgaria half the price it was in 2008
The new report from Bulgarian
Properties, a market analyst, has found that the price of apartments in Bansko
have fallen in value by a massive 50 per cent since 2008. This has resulted in increased interest from
buyers looking for affordable property, with the Move Channel recently
reporting that Bulgaria had returned to the top ten destinations for online property
searches.
The research found that in the first
eight months of 2011, apartments in the ski resort of Bansko sold at an average
price of 760 euros (£663) per square metre. However, after a ten per cent fall
in values in May alone, the index value of Bansko Property is now at 51.31 –
almost half that of November 2008, when the index value was at a peak of 100.
Bulgaria continues to attract interest from foreign buyers
The research also found that other types of Property In Bulgaria had also seen reductions in prices over recent years. Beach Property In Bulgaria has also seen major declines in prices, although nowhere near as steep as Bansko. Other reports report a decrease of just 22 per cent in house prices.
The International Business Times reports that ‘as the summer season ends and buyers begin to think of colder climates, Bulgaria continues to attract interest from property buyers.’ This is borne out by a recent Move Channel report that shows Bulgaria hanging on to its top ten spot in September’s poll of foreign property destinations searched for online.
