Buyers offer EUR 30,000 for holiday property
Brokers report shortage of luxury apartments for rent in Sofia, Varna
About EUR 30,000 is the most common price buyers are ready to pay for a holiday property in Bulgaria, Luximoti managing director Nikola Stoyanov said. The amount is sufficient for a two-bedroom apartment in the mountain resort of Bansko or farther from the beach in Slanchev Bryag on the seaside, he added.
Requirements
The crisis has made property buyers harder to please. , though they do not have so much money, Stoyanov pointed out. Prices in Bansko have fallen about 40% since the peak. The Russians and Brits could be previously defined as the main buyers of holiday properties but now no such trend can be determined.
Luxury
It turns out, however, that the crisis has not hurt the market for luxury property rents in Sofia and Varna. Demand remains strong and there is even shortage of high-end properties, Nikola Stoyanov admitted. The price for a two-bedroom apartment starts from EUR 700, bigger units are rented out for EUR 800 and more, brokers told the Pari daily. Luxury apartments are rented mainly by foreigners who come to work on certain projects or are heads of international companies. They usually have a set budget for rent and look for quality, the price not being their top criterion.
Sales
There are almost no home owners compelled to sell, Stoyanov explained. If they fail to reach a deal, they withdraw the property from sale. The owners of such apartments and houses are reluctant to offer price reductions. It is worth noting that clients who bought property in 2008 can now sell it at the same price, i.e. luxury remains valuable, Stoyanov pointed out.
Text source: pari.bg
Image: mirela.bg
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