Rising Prices Trigger New Routes to Buyer Success
It's now official! The movement in house prices in Bulgaria has turned from negative to positive ... and this has triggered a flood of new opportunities for property buyers.
Sliven (I-Newswire) September 16, 2012 - While the first three months of 2012 saw a decrease of 0.3%, Q2 prices were on the up by a factor of 0.2%. And, significantly, the National Statistical Institute (NSI), reports this increase as the first quarterly growth since the end of 2008, when Q4, 2008 started a spate of 14 successive drops in house prices.
At the same time, with a massive 12.48% increase in recorded web search activity, Bulgaria has regained its top 20 spot in the Rightmove Overseas Search Report for July 2012 and has also climbed back up to position 39 in the latest edition of Knight Frank's Global House Price Index.
More directly perhaps, leading agents Bulgarian Properties and Property Partners BG have both reported a Q2 increase of around 3% in the average prices of houses and apartments in Sofia.
So, what does this mean for buyers? Well - it's pretty clear today that, although prices now appear to be moving in upwards direction, Bulgaria still offers a huge array of bargain properties across all price ranges. If you want a low-cost holiday home on the beach or in the mountains, you can snap up a simple studio at around 15000 euro or a 2-bedroom apartment from as little as 30000 euro. A renovated family house in a nice country area but within easy reach of the sea? No problem … yours for around 35000 euro. And if you're looking for a more out-of-the-way village property, ripe for refurbishment … you'll have a fair amount of change from your 8000 to 10000 euro.
But price is only part of the picture. Sales have been pretty much in the doldrums for months, with both real estate agents and private sellers taking time out to develop newer and more attractive purchase options to tempt buyers back as soon as the market begins to recover
And now it has. So buyers can look forward to a flood of value added incentives to make the purchase of a property in Bulgaria even more attractive.
Over the past few months, Property Partners BG has uncovered details of a number of 'Buy One Property - Get Another Free' offers which information portal Bulgaria Gateway has described as "... an interesting and innovative marketing strategy with the potential to create a new niche sector in the market."
And hot off the press today comes news of yet another added value offer. In this case, the deal was for the purchase of a 'Renovated & Furnished Guesthouse plus Property Portfolio', which, in a nutshell, involved buying the Guesthouse for what already seemed like a highly attractive price - and you would also become the owner of three additional properties at no extra cost. Well, this one has gone ... but there is another similar package available with details on the MovetoBG.com website at www.movetobg.com/businesspurchase.htm
Asked to comment on these new offers, David Livingstone, CEO of MovetoBG.com, said "This seems to be developing as a definite trend which may well be a reflection of the growing levels of confidence that both buyers and sellers are now demonstrating about property in Bulgaria."
"It's all about added value ..." he continued, "... and it doesn't get much more valuable than adding additional properties for free - which is why we expect to see much more of this type of strategy over the coming months."
MovetoBG.com provides information about Bulgaria, together with a portfolio of related services and More..comprehensive local knowledge gleaned from five years of living and working here. Our aim is to provide a single source of information, advice and practical help for everybody visiting Bulgaria. So, whether you are planning a relaxing holiday break, a travel adventure, a fact-finding trip for your property purchase - or if you are thinking of moving here permanently, we can offer the ideal starting point for your Bulgarian experience.Less..
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Published On:September 16, 2012
Print Release:Print Release
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