July 25th, 2008 by Bulgarian Properties in Bulgarian Properties
The first quarter of 2008 showed further the tendency towards slowing down of the Bulgarian property market - especially in the major cities. The property prices growth registered for Q1 2008 was 10.6% compared with 11.3% for Q4 2007, 12.0% for Q3 2007 and 12.3% for Q2 2007. Property prices growth in Sofia has been even smaller - 5.9%.
This is due to a number of factors. The end of 2007 and beginning of 2008 has seen attempts of the International Monetary Fund to restrict to hyper expansion of bank crediting during 2007. Some regions have experienced much higher supply of newly build properties than the existing demand - mainly areas along the Black Sea coast, as well as the capital Sofia. Some major investors have found other businesses to be a more attractive option for their investments - during the last 5 months oil prices registered a 34.7% growth, whilst the Sofia stock exchange SOFIX had a growth of 34% for the same period. Compared to these, the property market with its 10.6% growth seemed as not necessarily the most attractive option.
The expectations for the next 6-12 months are for sustainable price growth of 6-10% in Sofia and along the coast and higher growth for the smaller regional centers. Some overpriced, overdeveloped areas might register negative price growth during the next 6 months. Compared to Central European property prices, the Bulgarian properties market still has a long way of “catching up”. Compared to Bratislava and Budapest, property prices in Sofia and Varna are still 40% to 100% cheaper.
During 2008 and 2009 the significance of Bulgarians living abroad and foreigners on the property market will slowly weaken. The convergence of the Bulgarian economy to that of the EU will feed the internal pressure on property prices and will stabilise them above the average growth for the economy (5-6%).
July 24th, 2008 by Bulgarian Properties in Other property related
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July 23rd, 2008 by Bulgarian Properties in Bulgarian Properties
Description of the property:
Plot of land
Property Address:
Municipality of Gabrovo
Chernevtsi village
Location:
Village in the mountains
Price:
€ 10 000
Detailed description of the real estate and additional information:
Square Surface – 3.601 decares (plus an additional 7.800-decare plot – farming land/forest)
Farming lang, bordering on the village (with regulation). The plot offers an excellent view of the Middle Balkan Mountains and is sunlit all day. There is an asphalt road leading to the location. Next to the plot there is electricity and running water.
Nmber of inheritors of the real estate – one
Geographic Location: The village of Chernevtzi is situated in the middle part of the Balkan Mountains, to the east of the town of Gabrovo, at the very end of the Shipka mountain pass. The distance to Gabrovo is 13 km, to Sofia 200 km, to Varna 255 km, to Plovdiv 115 km, to Bourgas 205 km.
Additional information: The land plot is located in a highly favored region, in a close proximity to the “Fenerite” hotel complex in the village of Kmetovtzi, in proximity to the town of Gabrovo and to the architectural and historical reserve - the village of Bozhentzi. Calm and peaceful environment, clean air. There is an additional 7.800 decare plot of farming land/forest, located near the first plot. It does not border on regulated land.
Pictures:
For sale by owner! Contacts:
Name: Elitsa Stefanova Todorova
Tel.: 00359 899 287 224
Mail: elitsa0505@yahoo.com
