Apr 302020
 

On March 20th, the Bulgarian Government closed its borders for all non EU Members and their families.

The Bulgarian Government extended the Lockdown until May 13th.

These measures are expected to be eased after that date as the number of cases of COVID 19 are beginning to reduce.

As a result of COVID 19 measures the majority of property transactions in Bulgaria have been put on pause.

Property Prices in Bulgaria due to COVID 19 are currently unknown but we should expect a reduction in the region of 10%.

With Non EU members making up a large percentage of Buyers in Bulgaria.

This exclusion has had a serious but temporary impact on the completion of property sales.

On a positive note, the number of online enquiries is greatly up on the same period in 2019.

This in itself is not definitive but it is certainly encouraging.

Property Prices in Bulgaria due to COVID 19 have been negatively impacted.

The level of interest in purchasing a holiday home in Bulgaria remains very strong.

We credit this mainly to the following points.

  1. Holiday Homes in Bulgaria offer the best value for money per m2 in Europe.
  2. We are seeing a large number of people wanting to own their own Holiday Home for the future instead of using hotels.

In conclusion, the long term impact on Property Prices in Bulgaria due to COVID 19 will be neutral.

If you are considering purchasing a property in Bulgaria.

If you would like a current market valuation for your existing property in Bulgaria.

Please Contact Us.

Apr 282020
 

Owning holiday home in Bulgaria is a privilege and something to be proud of. However, you may want to move on and you will need to know How to Sell Property in Bulgaria.

We have set out a few tips below which we hope you will find helpful.

  1. Finding the Agent

Finding the right Agent is not always as easy as it sounds. You will find a large number of agencies online, but how will you know which one to go with?

Should you go with the one that gives you the highest valuation?

This can be tricky, because we all want the highest price for our properties but we must remain realistic.

2. Valuations

Is a higher valuation too good to be true or is the lower valuation just a lazy Agent trying to get you to agree to a very low price?

We would advise you to always ask the agent to provide examples of the properties that they have compared your property with.

This will give you an indication of the types of properties that your property is being compared to.

It is very important that they are comparing your property with similar properties which are currently for sale or that have been recently sold.

Accurate comparisons are vital when establishing the current market value of your property.

If you are unhappy with the valuation but accept that it does reflect the market, then we would advise that you reconsider placing it for sale.

Properties which are placed for sale at too high a price will not attract enough interest and most agents will not push Buyers towards it.

You should always remember that the majority of Agents make a sizable part of their income from sales commissions.

For this reason, they are unlikely to push Buyers towards properties which are not competitivley priced.

3. Marketing Fees

We would not recommend that you pay any Marketing Fees to an Agent in advance of selling your property.

In fact, we do not believe that a Marketing Fee should be charged at all.

Professional Agencies should all have accounts with various large websites such as Rightmove and A Place in the Sun.

These accounts are a set monthly fee for a specific number of properties, and these fees are a cost of running the Agencies business.

Therefore, there is no need for you to pay for advertising your property. This cost should be within the Agents fee when they sell the property.

Correct marketing by your Agent is a key part of How to Sell Property in Bulgaria

4. Agency Sales Fees

The average Agency Sales Fees charges for a holiday home sale in Bulgaria is 10% of the price achieved.

This can vary slightly between agents but this is reasonable guide.

There are Agents who will offer to sell without charging you fee. They will charge the Buyer instead.

While this can sound attractive, in essence it is unlikely to give you any additional money in your pocket at the end of a sale.

The main reason for this is that the Buyer will factor the sales fee into their offer and offer less for the property.

In conclusion, if you choose the right Agent they will provide you with an Accurate Valuation.

You will not need to pay Marketing Fees and you allow for should up to 10% for Sales Fee regardless of whether it is paid by you or the Buyer.

Should you wish to discuss your property in Bulgaria further please contact us and we will be happy to help.

Apr 272020
 

Selling Property in Sunny Beach Bulgaria in 2020 is very possible despite the current restrictions (April 2020) related to Covid 19.

Buyers this year will be very focused on securing a property in one trip.

Sunny Beach Bulgaria has beautiful beaches, 5 star resorts and is located just 20 mins from Burgas International Airport.

Resort owners are offering exceptional deals and packages to encourage holiday makers and investors to visit the region during summer 2020.

We have already been selling property in Sunny Beach Bulgaria in 2020.

Many of these sales have taken place before the COVID 19 outbreak. However, we still receive a high number of enquiries from Buyers seeking to arrange viewings when the restrictions end.

To date, the most popular properties have been large one and two bedroom apartments.

Developments which function all year round are becoming more preferable with Buyers.

Flights into Burgas are due to commence again by mid to late May.

Many of the Air lines which provide services to Bulgaria have confirmed that they expect to be operational.

Some of these airlines include Aer Lingus, Ryan Air, Jet 2, Turkish Airlines and Aeroflot

Sellers of property in Sunny Beach should expect to negotiate with serious Buyers.

Discounts on current asking prices will be expected and are advised if within reason.

We alway request Buyers to provide proof of funds before we relay the offer to the Seller.

This is an to an excellent way to establish how committed the Buyers are.

Serious Buyers are more than happy to demonstrate their ability complete.

Once a proof of funding has been provided we can at least advise our client that a sale is possible if they accept the offer.

In conclusion, Selling Property in Sunny Beach Bulgaria in 2020 is very possible as long as all parties remain realistic.

We will be happy to provide you with a Free valuation of your property which will reflect the current market.

To discuss Buying or Selling propery in Sunny Beach Bulgaria please contact us.

Jul 022018
 

Selling Property in Sunny Beach Bulgaria is a very simple process if you appoint the right agent to represent you.

Appreciating Assets have been Selling Property in Sunny Beach Bulgaria for Irish and British owners since 2008. During this time we have found buyers for over 1,500 properties and this number continues to grow every week.

During the last 10 years of Selling Property in Sunny Beach Bulgaria we have learned a great deal about the market and the reasons why people buy and sell in Sunny Beach.

Front line properties in Sunny Beach are always in demand and those with sea views will sell quickly, providing that they are at the right price

Some of most popular resorts in Sunny Beach are Poseidon, Palazzo 1 & 2, Sunny Day 1,2,3,4, Holiday Fort Club, Trakia Plaza, Barcelo Royal Beach Club, Sea Dreams, Summer Dreams, Royal Dreams, and Yassen.

The most popular properties with Buyers in Sunny Beach at the present time are Studios and One bedroom apartments. Two bedrooms are selling well but they must be at the correct price.

The main reason for this is that the budgets buyers are coming with are smaller than in previous years and this trend has been in place since the collapse of the Russian Rouble in 2014.

To Sell Property in Sunny Beach Bulgaria in 2018 will be achieved by placing your property for sale at a price that reflects the current market.

To sell your property in Sunny Beach Bulgaria please Contact Us.

 

Mar 092018
 

As a business that specialises in selling Bulgarian property we have been concerned by the recent European and U.S sanctions imposed on Russia.

Given the high level of activity in the Bulgarian property market by Russian buyers we were concerned that these sanctions would have negative effect. We are delighted to report to that we have not seen any negative fall out to date in the number of Russian Buyers travelling to Bulgaria, however we must note that the weakening Rouble is causing many Russian Buyers to seek discounts to compensate the cost of purchase.

The charts below demonstrate the fluctuations between the Rouble and the Euro since 2009.

average Russian Buyer needs approx 7% more Roubles to buy a Bulgarian property than they did during the same period of 2013. An example of this was a recent sale of two properties in Santa Marina in Sozopol where the purchasers requested a discount to allow them to complete the purchase. The discount agreed was 8% of the asking price as they needed to factor in the loss in value of the Rouble from when they had initially started to search for a property.

 

Despite the weakening Rouble the real proof of the strength of the Russian commitment to Bulgarian property was demonstrated during our recent auction where we sold 17 properties, with 15 of these going to Russian Buyers.

 

 


Our next Auctions will be on August 28th and October 2nd, please contact us if you would like to discuss placing your property for sale or if you require a catalogue of the properties that will be for sale.

 

Mar 092018
 

We are delighted to have another property sold in Sunset Resort Bulgaria. This property was sold within 2 months of coming on to our books proving that there are still high end buyers in Bulgaria.

The property itself received a large number of enquiries within days of being placed on the market and  was sale agreed within the first five viewings.

We still have a number of unsuccessful cash ready under bidders who are seeking a 2 bedroom apartment in Sunset Resort.

If you own a two bedroom property in Sunset Resort  similar to the property the below please contact us as we may have a buyer for you.

Click here to see our recent sales

Mar 092018
 

With the Ski season now fast approaching, property sales in Bansko have started to increase. According to recent surveys, Bankso is expecting its best Season since 2008 for tourism. This will also have a positive impact on property sales in Bankso.

Since the beginning of the downturn Bansko has struggled with the oversupply of properties for sale and rent. While the oversupply of properties for sale is set to continue into the future, the rental market is showing initial signs of recovery. The increased number of tourists along with owners spending time in their own properties has really added a sense of positivity to the area which is very welcome.

Our most recent sales Bansko were Oct 14th in Lucky Banskso and Oct 17th in Vihren Palace. The prices achieved were in the region of €500 per m2.

While these prices do most certainly represent a loss for the owners, the key point is that there is a market for properties in Bansko at the right price.

If you own a property in Bansko that you are considering bringing to the market for sale, please contact us and we will be happy to give you an accurate valuation of your property free of charge.

 

Mar 092018
 

With the Ski season now fast approaching, property sales in Bansko have started to increase. According to recent surveys, Bankso is expecting its best Season since 2008 for tourism. This will also have a positive impact on property sales in Bankso.

Since the beginning of the downturn Bansko has struggled with the oversupply of properties for sale and rent. While the oversupply of properties for sale is set to continue into the future, the rental market is showing initial signs of recovery. The increased number of tourists along with owners spending time in their own properties has really added a sense of positivity to the area which is very welcome.

Our most recent sales Bansko were Oct 14th in Lucky Banskso and Oct 17th in Vihren Palace. The prices achieved were in the region of €500 per m2.

While these prices do most certainly represent a loss for the owners, the key point is that there is a market for properties in Bansko at the right price.

If you own a property in Bansko that you are considering bringing to the market for sale, please contact us and we will be happy to give you an accurate valuation of your property free of charge.