Property sales continue to fall in Bulgaria

The number of property sales taking place in Bulgaria continued to fall in the second quarter of this year.

According to Balkans.com, however, the fall in residential sales was negligible - good news for investors with property in the country.

Sales actually dropped by 0.8 per cent during the three months to the end of June.

This rate of decline is a marked improvement on the 2.3 per cent fall witnessed in the first quarter of the year.

The slowing decline of investment property sales in Bulgaria could signal a recovery in the country's property market.

Balkans.com, claimed that many investors are unwilling to buy off-plan residential properties in Bulgaria at the moment, which in turn is driving demand for apartments on the country's "second-hand market".

According to Moneycorp, one in four first-time buyers are looking to invest their cash in overseas property as opposed to a home in the UK.

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