Tendency in Second Home Prices in Bulgaria

The new 2011 has just started. Analysis, comments and forecasts for the real estate market in Bulgaria pop up every day from various sources. Still most of them are pure speculation or a curved attempt of marketing. While reading and applying it on our own experience we rarely find a match.

It is more than clear that real estate situation in Bulgaria is directly influenced from the world economic crisis and as far as the prognosis concerning the future development of this matter are contradictory and in so many cases discrepant to what really is going on, no one can provide an accurate forecast for Real estate market in Bulgaria too. In situation like that exploring in details each property due to purchase is a must! Only this can guarantee adequate position for a certain property, because no general comments and tendency really apply in this business right now.

As it is really ambitious to say that someone is able to comment authoritatively on all different sectors of the real estate market and in our case this is not really the aim we will make a short and concise account on a tendency that does effect a certain part of the market in Bulgaria and to which nobody pays attention, or just no one talks about as it may not sound good and attractive. In the same time this is a point of view that deserves to take some part in the real estate analysis regarding Bulgaria property market and we will give our contribution to it.

As an agency that mostly works with foreign buyers, Best BG Properties LTD has rich experience with second home buyers. Big part of them are attracted from the country because of the nature, hospitality, low cost and free style of life. When they buy the purchase is mostly emotional and is a subject of non investment purposes. Of course people prefer to get a real estate which value will always go higher and Best BG Properties representatives as a Reputable Consultants for real estate in Bulgaria , always give advises in this direction , but the point is that this is not the leading prerequisite for the purchase. Anyway this category of buyers created a market that was not really obeying the market laws and the ever lasting cliché "location, location, location ". People buying a second home or a vacation place prefer private , non touristic location far from busy city life , in the middle of clean and unspoiled nature. As most of them would receive their income from the country of origin in a form of pension, the fact that in practice in these areas there is no working economy is more an advantage than the opposite. Being an exception in the beginning, this tendency formed a significant part of the direct foreign investments in real estate for the period from 2006/7 till 2009/10. Unfortunately for these buyers due to what has happened in their own counties as a result of the world economy collapse many of them couldn't fulfill their beautiful dream for a well arranged house in a cozy Bulgarian village. Their properties were left abandoned in many cases after a renovation done in order to bring the property to the necessary modern standards. For some time many of these owners were still hoping that they will manage the situation and then, one by one they just put their dream houses back for sale and here a new factor on the real estate market in Bulgaria emerged.

These people having no investment and economical reasons to buy in Bulgaria, but just emotional , they do not aim any profit or investment return - they just try to forget and look upfront . Due to this group on the Bulgarian real estate market nowadays there are so many houses at really good prices and in very reasonable shape - something that is determinant for the atmosphere on the second home market here. This for sure is good news for the ones that turned their attention to our small but beautiful and modern country nowadays. Lot of agents would explain to you how the prices are that much percent lower but in order to get a full understanding on this subject and thoroughly realize why you are able to buy a beautiful house for less than 50000 you should give a thought to this factor .

To the ones that couldn't bring their dreams for a house in Bulgaria to reality because of one or another aspect of the world economical crisis we want to say that they brought a different spirit in Bulgaria and many Bulgarian villages look much better because of the cute, perfectly arranged properties that they have left behind.

We from Best BG Properties, believe that better times are coming and work hard to bring to the attention of the people who want to buy a real estate in Bulgaria the most attractive offers!