Bulgaria property sees summer demand spike

Photo credit: Graham Chastney

Demand for Bulgarian property has spiked this summer, according to Quest Bulgaria.

The publication reports that sales increased in city, beach, ski and rural sectors of the market, as Russians continue to swoop on the country's low priced real estate.

Particular interest was paid to resorts in Bansko and Borovets thanks to a successful tourist season, the former's apartments fetching an average of €490 per square metre.

Away from the holiday buyers, Sofia's city flats also saw demand step up, with buyers keen on apartments worth up to €50,000. Rural properties, in regions such as Burgas, brought in retiring investors due to their low prices of €18,000, in addition to domestic first time buyers, trying to find a foot on the property ladder.

The sales figures are accompanied by news of prices stabilizing in March 2012, as the market's outlook continues to improve. Indeed, Bulgaria re-entered TheMoveChannel.com's Top of the Props report this month, once again becoming one of the portals' most popular countries for property buyers.