Property sales in Bulgaria on the rise
Over the first three months, properties in Bulgaria have had a strong start to the year with sales increasing. Data from the Bulgarian national Statistic Agency showed that the sales rose with 23% in Q1, compared with the same period in 2012. Total units sold properties ended the quarter at 44 174. In 2012 they was 35 821.About 13% of all sales are with mortgage loans. This equates to 5 811 units. According to a bank in Bulgaria there is an increase in the number of people asking for loans of 25%, activity in the sector is certainly improving. About 74.5% of these were in BGN rate, compared to the year previous when just half were. The banks are expecting this to continue and reach a market share of 80%.
It is visible that the Bulgarian property market is getting out from the stagnation. Real estate in Bulgaria now has a value of 38% lower that its Q3 2008 peak, when values stood at BGN 1 481( which is approx. GBP645.43) per sq.m. While it is now cheaper to invest in Bulgarian property, return on investment is very good and holiday lets are sure to be one of the best way to generate an income. Popular tourist spots like Burgas, Varna, Sunny beach, Golden sands, Bansko, Veliko Tarnovo are still attractive markets for buyers in Bulgaria.
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