After almost ten years of selling property in Bulgaria on behalf of Irish and UK property owners we are delighted to
Sunset Resort, Pomorie, Bulgariabe opening our fourth office in Bulgaria. Our new office will be located in Sunny Beach to cater specifically for UK buyers.
From 2008 up to 2013 it is fair to say that the vast majority of Buyers were Russian or from former Soviet States. In early 2014 we noticed that this trend was changing and we were receiving more and more enquiries from British Buyers which we are pleased to say is a trend that has continued.
This week we have sold properties in the Black Sea resorts of Sunny Day 3 and Sunset Resort to UK Buyers who have been able to take advantage of the current strong exchange rate between sterling and the euro.
We believe that the market awareness in the UK for Bulgarian property is growing and we anticipate that sales in 2016 with surpass those seen over the past 5 years.
The average price paid by UK Buyers in Bulgaria over the last two years has been just under €45,000 with the majority of clients opting to spend their money on buying larger apartments without sea views rather than paying more for the equivalent size apartment with a sea view. The feedback we have received in the relation to this has been that the size of the property is more important as they intend to spend more time over there rather than it just being a “bolt hole”.
We expect that the number of owners who intend selling property in Bulgaria will continue to grow as more and more of the current owners want to move on from Bulgarian property and try something new. This is quite understandable as many owners first purchased their property in Bulgaria over 10 years ago.