Selling Bulgarian Property - Current Market Conditions

If you own property and want to sell property Bulgaria you need to be aware of the current market conditions, movements, trends and catalysts.

The wave of Russian interest in the Bulgarian coastal properties is real and currently is a positive movement in the Bulgarian holiday property market. The Black Sea region and some rural parts inland from the coast are in the most demand. The coastal areas of Sunny Beach, Varna, Bourgas, Byala, etc. have experienced a sudden exodus of British and Irish interest.

However, the Russian demand has replaced much of it and while the prices have dropped they have not hit rock bottom. It is still possible to sell property Bulgaria, if it is a coastal piece of property, and get a return. If you are considering holding on to your property in hopes of resurgence, reconsider. If the Russian demand were to fade, your losses would be greater than they are now. If you are able to wait a good long time, it might be worth holding onto your property.

You need to understand the difference between now and the bygone era of British and Irish demand. The Russian buyers are in significantly low numbers and they are almost entirely only interested in coastal finished properties. They are not interested in building new homes or buying something that is semi-complete. This has created a buyers market.

People who want to sell property Bulgaria are bringing their property to market at consistently lower values. The volume of British and Irish vendors is vast and is acting like a market catalyst. With the constant flow of inexpensive properties replenishing the marketplace it encourages more Russian agents to sell the less expensive properties. More is invested in advertising which makes more Russians aware that they can afford a sunshine property and the demand bubble expands.

Normally as demand grows so do the prices, but not in this case because the supply is so excessive and disproportionate to the demand. And because of financial constraints in their county of residence many sellers are willing to sell at almost any price. This has had a national effect as the prices come down across the board.

Only those vendors that are willing to sell at below market value will succeed in finding a buyer. Those who choose to hold out for market value or at least what they paid for the property may have to hold on to their property for years to come.

by: James P Martin

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