Bulgarian buyers step up activity on the Black Sea coastline

by   CIJ News iDesk III
2020-10-29   11:37

The holiday property market in Bulgaria remained stable this summer. Although foreign buyers were prevented from finanlizing deals on the Black Sea coast, Bulgarian buyers showed serious activity and compensated for the loss of buyers from abroad. This is shown by the report of the construction and investment company Green Life Development & Resorts. Bulgarians' budgets did not differ from previous years, they paid an average of 65,000 euros for a one-bedroom apartment in Sozopol, and 100,000-110,000 euros for 2 bedrooms.

The activity, frozen in March and April, was made up by end of the season. August and September are the months in which most business and transactions took place. Apartments with one or two bedrooms are most desirable. Most transactions are paid by buyers with available funds rather than mortgages, which reinforces the desire to insure savings in investments such as real estate on the coast. Such buyers consider property an investment and find it can be easily rented.