Timithypaul
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Hi,
Latest news has revealed Prices on Bulgaria's Black Sea coastline have fallen by 15 to 30% in 2009 while prices of properties further inland around the coastal area have decreased by as much as 60 to 70%, Valeri Vassilev of Imoti Bulgaria OOD revealed. However, Valetin Suikov, a member of the board of the International Real Estate Federation of Bulgaria, said that the market had reached break-even point and prices would not change much in the next two years but added that prices of quality real estate would not fall further.
Major problems facing the market include the complicated procedure for Russians to get Bulgarian visas and that fact that there are no direct flights from Moscow to Bulgaria's Black Sea cities of Varna and Bourgas outside the summer season.
But there is some optimism with the number of building permits issued in the second quarter of 2009 increasing but the trend is for smaller units. But permits are still down 61.4% compared with a year ago.
Latest news has revealed Prices on Bulgaria's Black Sea coastline have fallen by 15 to 30% in 2009 while prices of properties further inland around the coastal area have decreased by as much as 60 to 70%, Valeri Vassilev of Imoti Bulgaria OOD revealed. However, Valetin Suikov, a member of the board of the International Real Estate Federation of Bulgaria, said that the market had reached break-even point and prices would not change much in the next two years but added that prices of quality real estate would not fall further.
Major problems facing the market include the complicated procedure for Russians to get Bulgarian visas and that fact that there are no direct flights from Moscow to Bulgaria's Black Sea cities of Varna and Bourgas outside the summer season.
But there is some optimism with the number of building permits issued in the second quarter of 2009 increasing but the trend is for smaller units. But permits are still down 61.4% compared with a year ago.