Bansko Property Market 2013

22.06.2016 Author: Imoti Bansko BG Ltd.

From 2000-2008 Bulgaria experienced a real boom in the property market. Residential property prices were known to surge by around 300%. The story changed from 2009 onwards where the average dwelling price fell by 21.4% from a year earlier. Foreign demand in property in Bulgaria has dwindled since the boom times of 2000-2008.

2009 say Bulgaria getting caught up in the world financial crisis, the fact that bulgarian property prices were in freefall only made matters worse! The fall in foreign demand led to the Bulgarian market’s housing prices falling further than any other nation in the world. There was a quite clear disappointment that the investment made in Bulgarian property had all but that those hopes dashed with the fall in demand from buyers and the subsequent prices in property falling.

There are other reasons for the drop in prices as well, mostly being indirectly connected with the recession but some are a little more to do with earlier success of the property market in the early 90s, now some people are annoyed that the beaches and gondolas are too busy.

As we know, falling housing prices are bad for sellers...but good for buyers, many see this time as a great opportunity to pick up a bargain in terms of property in Bulgaria. For example, the prices per sq m now are from 270-550 Euros, the higher end of the scale would account for the property being of luxury standard.

The serious buyers know, that buying now is essential, on the verge of a global recovery we anticipate an upcoming early noughties boom coming within the next five years so buying now is key, especially with the prices being so low right now. Please feel free to contact us to discuss your property buying requirements in Bulgaria now!