The prices of holiday properties in Bulgaria have collapsed

About 90% of the deals with holiday properties in Bulgaria are in the cities and resorts by the sea, as the Southern Black Sea coast is more preferred, according to an analysis of agency "Faros".

The greatest search is for the resorts of St. Vlas, Pomorie, Nessebar, Sunny Beach.

The Northern part of our coast is not so attractive for now, but there is no missing demand, mainly in and around the resort Golden Sands.

About 20% of the buyers prefer the big cities on the Black Sea as Bourgas and Varna, instead the noisy resorts, and only 10% are the customers who are looking to buy residential property in the mountain resorts or in smaller towns or villages.

Among the most wanted mountain resorts are Borovetz, Bansko, Razlog, Dobrinishte, Pamporovo and Chepelare.

The trend from last year of Russian citizens buying small rural houses near the sea in order to live there, continued through this year as well.

In such property type are interested mostly elderly families in retirement.

For property in a holiday village, the buyers are likely to pay between 60 000 and 80 000 Euro. The interest is primarily in small apartments with area up to 60 sq.m.

The property prices in Black Sea towns have decreased in the past six months. Towards the end of June they were between 450 and 500 euro per sq.m, while at the end of last year they had reached 700 euro per sq.m.

A major problem is that the foreigners rarely resort to the use of a consultancy or legal assistance in the purchase of property and for this reason the purchased property in many cases is problematic.

The proportion of foreigners who use similar services is still very small.