Why properties in Bulgaria are selling hard

You have a property in Bulgaria that you would like to sell? You are not sure what would be the appropriate price according to the current market. You make a quick check on the net for similar properties in the same area and then take a decision for the price. Most likely prices will differ a lot so you will make a brave try. Unfortunately Bulgarian property market is no longer a lotto game and follows very strictly the market logic. It has suffered all aftereffects of the economical crises and carries the signs of all the consequences of the overpricing in the past.

Before buying a property in Bulgaria now the investors make a detailed research and study their options very comprehensively. They compare the pros and cons for each property that they have stopped an eye on and make daring offers on the price. They make their best to take the most of the purchase. Most of the buyers have an exact idea for what they purchase the property in Bulgaria. Emotional buys are a very, very small fraction on the market now.

In comparison, just five years ago many properties in Bulgaria were sold only on emotional grounds. In many cases the buyers were falling in love with a spot and as the prices were looking attractive they did not judge the future risks. Then unfortunately bad economical times came. Most of the people did not fulfill their plans to renovate and improve the properties that they have bought in Bulgaria. More than 90 % of the old rural properties bought to be a second home or a holiday home after being repaired were left abandoned and without any improvements. With the years the state of these properties got worse and their value significantly dropped.

Last few years had negative effect on the prices of agricultural land which was bought with the idea to change its status. Usually this land is located in close proximity to all communications, it has nice views and good access and most often it is near by a project that was planned to happen - like golf course, big amusement or residential areas. Many of these plans were cancelled as the economical circumstances have changed. These lands lost their investment attraction which was coming from the planned development of the area and at this moment simply there is no market for these Bulgarian properties.

Of course there are cases in which the properties kept, even increased their value. Such examples are properties in Bulgaria in good areas with excellent infrastructure, good neighborhood and nice views.

In any case at the present moment on the Bulgarian real estate market we have thousands of offers for sale which do not have any chance to be sold as they do not answer the current property market conditions and demands.

If you are one of these owners that wait for more than six months your property to be sold you can contact us and request information about our new service Evaluate My Bulgarian Property.