The main question asked by his prospective buyers of apartments in the Black Sea resorts: Did the real estate prices in Bulgaria have bottomed and will continue falling for some time? To answer this question need to know the statistics on the transaction. If the number of real estate increases, the price had already reached its bottom and fall no more. But official statistics can not provide reliable information, and here's why: selling resort real estate in Bulgaria is by prior agreement, and official statistics show only the registration of the Notary Deed in BULSTAT. Time gap between signing the preliminary contract, namely the number of preliminary contracts reflects the demand in a given period, and notarial act may range from months to years. This occurs because many apartments are bought on the installment plan and the signing of the Notary Act is, in most cases, only after 100% payment of the apartment. Therefore, the decision must be taken by analyzing information from unofficial sources, and and analysis of the real estate market.
In Bulgaria, only the popular resort of Sunny Beach is building resorts and apartments for sale in them a few dozen developers. Complexes differ not only the distance from the sea, the quality of construction and decoration, internal infrastructure, but is especially important for customers price / performance ratio. Part of the developers have long responded to the adverse external factors and lowering the prices of successfully selling. Others, only they understandably do not want to, and kept high, uncompetitive prices. Of course, if consumer demand does not return to pre-crisis level in the coming year, many of them will simply be forced to reduce prices.
But buyers willing to buy an apartment in the complex, the developer is not willing to reduce to an acceptable level, not at all have to wait a year, especially because the preconditions for recovery in demand for property in Bulgaria is still there. Excellent alternative to buying from the developer, is to purchase apartments in the secondary market real estate. Apartment owners in Europe, deciding their home financial problems, are ready to sell apartments at 25-30% lower than a company builder. And if you found a suitable option, then you need to buy – essentially cheaper still will not be.
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Move Property Prices
November 2, 2023
General
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Joe
The main question asked by his prospective buyers of apartments in the Black Sea resorts: Did the real estate prices in Bulgaria have bottomed and will continue falling for some time? To answer this question need to know the statistics on the transaction. If the number of real estate increases, the price had already reached its bottom and fall no more. But official statistics can not provide reliable information, and here's why: selling resort real estate in Bulgaria is by prior agreement, and official statistics show only the registration of the Notary Deed in BULSTAT. Time gap between signing the preliminary contract, namely the number of preliminary contracts reflects the demand in a given period, and notarial act may range from months to years. This occurs because many apartments are bought on the installment plan and the signing of the Notary Act is, in most cases, only after 100% payment of the apartment. Therefore, the decision must be taken by analyzing information from unofficial sources, and and analysis of the real estate market.
In Bulgaria, only the popular resort of Sunny Beach is building resorts and apartments for sale in them a few dozen developers. Complexes differ not only the distance from the sea, the quality of construction and decoration, internal infrastructure, but is especially important for customers price / performance ratio. Part of the developers have long responded to the adverse external factors and lowering the prices of successfully selling. Others, only they understandably do not want to, and kept high, uncompetitive prices. Of course, if consumer demand does not return to pre-crisis level in the coming year, many of them will simply be forced to reduce prices.
But buyers willing to buy an apartment in the complex, the developer is not willing to reduce to an acceptable level, not at all have to wait a year, especially because the preconditions for recovery in demand for property in Bulgaria is still there. Excellent alternative to buying from the developer, is to purchase apartments in the secondary market real estate. Apartment owners in Europe, deciding their home financial problems, are ready to sell apartments at 25-30% lower than a company builder. And if you found a suitable option, then you need to buy – essentially cheaper still will not be.
financialproperty