No More Cheap Property For Sale In Bulgaria

Buying cheap property, even in Bulgaria's small villages, was becoming increasingly difficult, Bulgarian daily newspaper 24 Chassa reported.

Even if village houses were to be found, prices were no longer as low as in the recent past.

In the past five years property prices in Bulgaria increased fast, 24 Chassa reported. The process affected village property the latest. Increased investor interested in village property, however, quickly resulted in price jumps.

The growth rate began slowing down in 2005 and 2006. Because of the trends in the past few years cheap property could be found hardly, 24 Chassa reported.

Investors and agencies bought cheaper property in some of Bulgaria's small villages and after some renovation works offered it for sale at prices much higher than the original ones.

Data of imot.bg shows that property worth 10 000 euro could hardly be found. Only 1200 houses were offered for sale at such price. Only 100 houses worth 10 000 euro were offered for sale in the Sofia region, 24 Chassa reported.