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Bansko and the southern Black Sea cost have the most real estate offers

Submitted on Wednesday, 23 September 2009One Comment

The southern Black Sea coast and Bansko offer the biggest variety in real estate deals.

This was stated by Teodora Dimitrova, manager of the Bulgarian and Romanian branch of the European network for real estate companies ERA, in an interview.

“The demand is mostly dictated by foreigners looking for profitable investments or people that would have never thought of purchasing an estate if it wasn’t for the crisis. Studio apartments for 20 000 EUR weren’t possible until recently,” explains Dimitrova.

Foreign buyers have lessened in number just like in all real estate markets across Europe. Most of the foreign buyers at the moment are Russians, with concentrated interest on the Black Sea coast. The deals made there are within the 100 000 EUR limit.

There are a few deals for more expensive estates, but the mass client doesn’t pay higher than these levels. It can’t be said however, that the best estates are massively sold under their actual price. Such deals are a rarity and very individual – it depends on how quickly does the owner need to sell his estate.

“At the moment the buyers are few and if you hope to sell in a shorter term, that has to reflect on the price. Buyers can reach very profitable deals, but this isn’t a massive trend and the buyers shouldn’t rely on underpricing,” concludes Teodora Dimitrova.

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