Buyers allocate higher budgets to buy a second home on the coast of Bulgaria. The price of resort real estate are growing moderately and the majority of buyers – the citizens of Bulgaria. This is evidenced by the housing market overview prepared by construction and investment company Green Life CityHome.
In 2018, the average bill for the purchase of residential property in Bulgaria rose by 15% compared to the same period last year. This means that buyers are placing higher demands on real estate and are willing to pay more.
As noted by CEO of Green Life, for buyers is important, not only the parameters of the apartment, but the location of the complex, advanced options, security. That's why most buyers choose the gated. The most popular two-bedroom apartments with an area of 55-60 square meters with a nice view of the sea.
In 2018 prices for 1 bedroom apartments in Sozopol ranging from 50 to 60 thousand euros, in Pomorie – from 30 to 40 thousand euros. Individual homes in these resort cities are sold at 180-200 thousand euros.
According to forecasts of the Green Life, this year the growth of prices per square meter of residential property will be moderate, in the range of 10-15% per year. Also expected sales growth in the range of 10%.
Among the buyers of the vast majority of Bulgarians, and in the Agency planning to increase local demand by 10%. Bulgarian buyers employ mostly their own money, often earned abroad, and less likely to use mortgage lending. More than half of buyers acquire housing for personal use 40% to buy an apartment to rent.
The share of Russian buyers remains high. Buyers from Russia and Ukraine in the current year carried out about a third of transactions of sale and purchase mainly housing for year-round use.
In 2018, significantly increased the number of tourists from Israel. This season they came in third place among foreign visitors of Bulgaria. Green Life analysts predict the growth of transactions of purchase and sale of real estate with the participation of the Israelis. The forecast is based on the fact that tourists, after several visits to black sea resorts often transformirovalsya in buyers.
Source: Investor.bg
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