Bulgaria property prices fall in 2011

New research has revealed the value of Bulgarian property fell by between five and ten per cent in 2011, compared to 2010.

Propertywire reported on the data, which was gathered from brokers operating in the nation, noting that the situation is not expected to change over the course of the next 12 months.

Operations director at a Bulgarian real estate firm Polina Stoikova told the publication that the greatest demand is for properties in a low price bracket that are located in major cities.

Bansko, a ski resort, is one of the places that has experienced some of the biggest falls, with real estate values there sliding by 25 per cent during 2011, the news provider revealed.

In addition, an article in Focus earlier this month cited a study published by Presa Daily, which found home loans in Bulgaria have become more accessible.

According to the research, last year it was possible to obtain finance of between 80 per cent and 90 per cent of a residential property's value, while interest rates on mortgages have fallen and are now close to their 2008 level.
 

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