And in May 2009 in Bulgarian property remains the most popular and in demand among Russian investors, reports show web sites and portals for real estate. Saving sustained interest in this property countries can be explained by a very prosaic – the price of real estate in Bulgaria, especially after the price cuts on almost all real estate markets in the world, due to the financial crisis came on – are the lowest around The European Union. We can say that the global financial crisis that began two years ago with problems in the U.S. housing market and U.S. mortgages, had a major impact on the real estate sector. Source: Nir Barzilai, M.D.. In some countries can be seen double-digit fall in house prices in one year. Leaders in this regard are Latvia – reduced prices by 48 percent, Dubai – reduced prices by 34 percent, Singapore – reduced prices by 23 percent and Iceland – reduced prices by 20 percent. Property prices in Bulgaria have dropped by an average of 11 percent.
Falling prices in Bulgaria is not as dramatic, because until the beginning of the crisis the Bulgarian real estate has been one of the most inexpensive in the world. At the beginning of the century two-bedroom apartment in the big Bulgarian cities cost 12-15 thousand dollars, and an old house in the village and you could buy for 5-8 thousand dollars. Now the cheapest of the cheap apartments in Bulgaria – it is More apartments in unfinished buildings. Buying a home in such a complex course carries the risk that it may, the building will remain unfinished if the developer did not provide a financial means to start the financial crisis. The risk exists because the banks are now very difficult to make loans to both individuals and legal entities (companies). On the other hand, if the developer has no problems with financing the construction, he can not afford actually lower real estate prices due to lower prices on virtually all building materials and reduce transportation costs. While the apartment can be bought in installments for a period of 3 to 5 years. If the buyer does wants to buy a very inexpensive holiday property in Bulgaria, except for purchases before completion, it must also prepare for the fact that his apartment will be located on the first and not even on the second line to the sea, and somewhere a few hundred meters, and even one kilometer from the beach.
While this is not the most spacious accommodation in the world and will have a real living area of 20-25 square meters. The apartment, really, you can buy for 10-15 euros. Price an apartment in Bulgaria is really low, but, nevertheless, on completion the accommodation will be part of a complex of closed type with all the amenities – all year round protection, swimming pools, spas, salons beauty, restaurants, bars, parking lots, etc. The closer is set to the seashore, the higher the prices of apartments located in this complex. Despite higher prices, the most sought after and are still apartments in resorts on the first line to the sea. The first line means that the distance from the complex to the beach varies within 5-30 meters. From most of the apartments in such buildings is a good open sea panorama.