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Property sellers in Bulgaria drop the prices by 20%

The property sellers are ready to reduce the prices in order to find a buyer. They are even willing to revise their offers more than once. An average of 350 sale offers reduce prices per day. The discounts of the originally announces price are about 20%.

The biggest reductions are for parcels and the smallest - for apartments in the major cities in Bulgaria. For example, a plot of 5000 square meters, located in one of the Sofia neighborhoods sells for 550 000 euro, which is 62% less than the originally announced price for the property. Another plot located in Pernik, is reduced by 50 percent off. From 40 000 BGN the offer was reduced to 20 000 BGN.

A plot of 1700 square in the village of Borilovo, near Stara Zagora, sells for 17 000 euro. This is a decrease of about 47 percent against the initially announced price of 32 300 euro.

According to the data, the owners of the property lower the price for the second time, at the end of May it has been selling for 25 500 euro.

From the data it is clear that homeowners in the large cities are more cautious and are not rushing to bring down the price of the properties. For example, two-bedroom apartment in a prestigious district Lozenets, currently sells for 100 thousand euro. This is barely 5% less compared to the original offer.

Two-bedroom apartment in Varna, Bulgaria sells for 48 970 euro. Which is 12.25 percent less than the original offer of 55 800 euro. From the data it is clear that the price of this property has also been reduced twice. In May it has been selling for 52 490 euro.