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Overseas Property News
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British demand for property in Bulgaria wanes
Country: Bulgaria
1 February 2008
Fewer Brits are now interested in buying property for sale in Bulgaria, according to Bulgarian Dreams.
The estate agency informs Homes Overseas on-line that it will no longer market Bulgarian property for sale in Britain. The fall in UK demand comes as a bitter blow to Bulgaria’s property sector, which is facing testing times. An oversupply of properties in many areas means that a number of British property investors are now struggling to sell their Bulgarian properties, causing Bulgarian property prices to fall across some parts of the country.
Dave Reynolds of Bulgarian Dreams told Homes Overseas on-line: “Far less Brits are now buying property in Bulgaria, due to higher living costs and growing concerns about the UK economy. Consequently, we have decided to concentrate on selling property in Bulgaria to more property buyers overseas, most notably Russians.”
Nordic based Danske Bank recently warned that there are similarities between the property bubble growing in Eastern Europe and the financial crisis that hit East Asia in 1997.
Danske Bank's chief economist, Lars Christensen, said: “The macro picture is deteriorating dramatically. On almost all indicators, the extremes are worse than during the East Asia crisis in 1997-1998. We have a story of over-leveraging and asset bubbles with massive excesses that are clearly unsustainable. Look at Latvia, where the current deficit has reached 30 per cent of GDP, and it is not much better in Bulgaria and Romania."
Some properties in Bulgaria
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Price: £3,211
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Type: House
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Bedrooms: 3
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Cheap rural house with good development potential, located 45km away from Veliko Tarnovo!
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View details | Enquire further
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Price: £3,219
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Type: House
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Bedrooms: 2
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Two-storey house set in the village of Maslarevo, 18 km from the town of Polski Trambesh and 45 km away from VelikoTarnovo. It is a well-organized place close to a main road. The house spreads over 75 sq.m. living area distributed on two floors.
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View details | Enquire further
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Price: £3,219
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Type: House
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Bedrooms: 3
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Detached rural house located in the village of Maslarevo, 18 km from the town of Polski Trambesh and 45 km away from VelikoTarnovo. It is a well-organized place close to a main road. The house spreads over 100 sq.m.
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View details | Enquire further
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Price: £3,622
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Type: House
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Bedrooms: 2
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The house is situated in open countryside position approximately 45 km. from Veliko Tarnovo and 17 from Strazhitsa.This delightful area provides an excellent opportunity to enjoy living amongst peace and quietness.
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View details | Enquire further
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Price: £3,622
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Type: Bungalow
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Bedrooms: 4
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This fantastic value property is situated in a sought after village, located on a short 15 min drive from the main city of Dobrich, which provides all the amenities for a modern contemporary European city.
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View details | Enquire further
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Price: £3,622
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Type: House
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Bedrooms: 2
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This lovely property is located in a very small village set in beautiful area 15 to 20 minutes drive from the main town of General Toshevo, Dobrich region.
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View details | Enquire further
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Price: £3,688
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Type: House
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Bedrooms: 1
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Ref No:NS-ust14
Location:near Elhovo
Living area:50
Garden:800
Floor:1
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View details | Enquire further
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Price: €185,000 Bedrooms: 4, 2 ensuite showers Private sauna, garden, terrace. Metres from Super Borovets ski gondola & golf course. Surrounded by pine forests.
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