A second home in Bulgaria?
Around 23 000 new-built apartments South of Sunny beach are looking for buyers. This showed data of the ...
Posted by Yanko on 2008-04-01
Financial Times: As the global credit crunch tightens, British and Irish home buyers, who drove the development of Bulgaria’s Black Sea coast, are being replaced by cash-rich Russians and Romanians.
A sharp fall in demand for smaller studio and one- bedroom apartments of between 40 and 60 sq m in established resorts, has pushed down prices by between 8 and 12 per cent in the past six months, according to estate agents. Prices now range between €800 ($1,185) and €1,200 ($1,777) a sq m in new developments, depending on proximity to the beach.
But rental yields are low, at about 2-3 per cent, because of a relatively short summer season and an over-supply of smaller apartments.
Found out more at the Financial Times web-site
Associated Property Places:
Bansko
Irakli
Sunny Beach