Bulgaria Research News

In contrast to 2010, when property prices dropped by about 10%, in 2011 we are witnessing an average decrease of 5% in the prices of different property types. The good news in the last few months is the increase in the number of concluded deals.

The stabilization on the Bulgarian property market which started in the middle of 2010 continued in the first quarter of 2011.

The first month of 2011 was very dynamic and successful in term of deals with apartments in the capital Sofia. The sales increased double compared to 1.2010 by data of BULGARIAN PROPERTIES

There is an increase in the number of businesses offered for sale in Bulgaria but no demand by potential buyers. Two years since the start of the crisis, the interests of the two parties still cannot meet and the deals are few.

2010 – stabilization of the prices and increase in the number of realized deals. 2011 – continuing stabilization of prices, more convincing increase in the number of deals and a small increase in property prices in the last quarter of the year.

2010 has brought the so-expected stabilization on the Bulgarian real estate market and as a whole it was more successful than 2009. However, it didn’t manage to convincingly end the drop in real estate prices.

The average price of rural properties sold in the second quarter of 2010 is 14,600 Euro which is similar to the average price in 2009 – 14,300 Euro. There is an increase in the average price of rural properties compared to the first months of 2010.

The first quarter of 2010 was relatively successful for the real estate market in Bulgaria as the average activity on the market was 40% higher compared to the same period in 2009 – the most difficult period on the property market in Bulgaria.

According to BULGARIAN PROPERTIES' data, a total of 18% of the active offers on the company’s website are with discounted prices. For comparison, their number was only 5% in June 2009. The average percentage of decrease is 20%.

2009 – decrease in property prices, postponement of purchases and search for bargain deals. 2010 – in anticipation of reaching the market bottom, price stabilization and increase in the number of realized deals.

This is a summary of the most important events on the Bulgarian property market in 2009, latest figures from November and forecasts for 2010.

BULGARIAN PROPERTIES has founded its own consultancy company for business sales, mergers and acquisitions for Bulgarian companies. The new organisation is called BusinessForSale.BG and their website is www.BusinessForSale.BG

Sofia, Bulgaria – Neil Armstrong, The First Man on the Moon and an icon of the 20th century is represented for his speaking engagements by CSA Celebrity Speakers.