Is it the Right Time to Sell Property in Bulgaria?

Is it the Right Time to Sell Property in Bulgaria?

 If you’re looking to sell property in Bulgaria, there are a plenty of reasons for you to feel excited about the way things are going in the country right now.  After a long time, realtors in Bulgaria are optimistic about the potential of the real estate market in the country.

2014 was a year of strong recovery, which has been continued into 2015. In fact, there is today a shortage of homes put for sale in the country, which will only boost the prices of Bulgaria properties for sale. The demand is clearly higher than supply in 2015, and this is great news for you if you have been looking to sell properties in Bulgaria.

Much of the new demand is for properties by the seas and around ski resorts. While many locals have entered the market and are taking advantage of the great opportunities, the biggest investors in Bulgaria are those from abroad. As Polina Stoykova of Bulgarian Properties says, “We also notice a noticeable increase of interest in properties in Bulgaria by British buyers and we expect this trend to evolve in 2015.”

If you have a Bulgaria apartment for sale in one of the large cities, or a home in a town, or a holiday apartment in the popular Bulgarian beach resorts and ski resorts – this is clearly good news for you.

As Goryan Varbanov of New Estate says "If in 2011, right after the crisis, people were buying cheap apartments of €16-25 thousand, now the main demand has shifted to apartments priced at €35-45 thousand. So, I think buyers will continue to move towards a higher price segment."

What is clear is that over the last 10 years, the Bulgarian market has been developing cyclically – which means 5 years of growth from 2004-08 were followed by 5 years of decline, from 2009-13. Today, the circle has turned yet again, and we should be looking forward to a few good years of growth in prices of properties in Bulgaria.

Of all the people interested in the Bulgarian market, the most active are the Russians. Russians have always been the primary buyers of properties in Bulgaria owing to the country’s closeness to Russia. It has been observed that as the political and economic situation worsens in Russia, more and more people from that country look at settling abroad. So, we certainly foresee a plenty of interest from Russian nationals in Bulgarian houses for sale.

As Maria Laleva, who owns a small real estate agency in the city of Burgas, talks about how the Russians are not only interested in apartments at resorts and in cities, but also in houses in the Bulgarian countryside. She says, "This market segment was totally out of demand, and it was even unknown for most of realtors before the crisis. And now, almost every month, even in the fall, even in the off-season, people go to watch rural houses in 25-60 kilometers from the coast. Number of requests grows like a snowball. I even had to hire two assistants. Some villages around Burgas have become very known among Russian buyers." 

If you’re looking to sell property in Bulgaria really fast, it is important to trust international property agents who have extensive connections with property investors from Russia, Ukraine and other countries.

WorldWide Group are the top UK estate agents for overseas property markets, and we have sold hundreds of properties in Bulgaria over the last few years and several thousand across Europe. We are trusted by high net worth international property investors, especially those from countries such as Russia and China.

For more on how we can help you sell property in Bulgaria, do contact us by filling the contact form here. 

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