Sun, Jul 05 2009

DEMAND FOR VACATION PROPERTY IN BULGARIA MAINTAINS HIGH LEVEL

Fri, Aug 11 2006 09:00 CET 368 Views

Bulgaria's vacation property maintained its status as the most profitable real estate investment.

A research of imot.bg showed that most luxurious vacation property was located in the coastal Sunny Beach resort, Dnevnik newspaper reported.

More than 1600 vacation apartments were offered for sale. Nearly half were located in Sunny Beach.

The development, however, did not affect prices. Despite the steady supply prices remained high, real estate agents said.

Most owners offered two-bedroom apartments. Average prices of sq m in Sunny Beach reached 975 euro. In Sozopol resort the average price was 930 euro a sq m. Apartments still under construction sold cheaper.

In other coastal resorts like Ahtopol, Nessebar and Pomorie prices varied between 580 and 700 euro a sq m, Dnevnik reported.

Three-bedroom apartments were not offered that often since investors dealt cautiously with such projects. Demand was not high enough yet and most property seekers still preferred two-bedroom apartments, Dnevnik reported.

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