Real Estate market in Bansko remains stable for the first quarter of 2015

real estate market in bansko remains stable for the first quarter of 2015

The real estate market in the winter capital – Bansko remains stable for the first quarter of 2015. The average price of actual closed transactions is 340 Euro per square meter. Most demanded properties are studios and apartments with one-bedroom which are already finished and furnished. The pricing framework for furnished one-bedroom apartment is up to 24, 000 Euro and 14,000 Euro for a furnished studio. Nevertheless, the real estate market in Bansko still suffers from oversupply as more than 80% of the properties are put on the market for sale. Properties below market values can be easily found, apartments are selling below 300 Euro per square meter, furnished and ready for living or letting.

Surely, there is an outflow of the Russian buyers which form only 14% of concluded transactions over the period. Inevitably, causes are the crisis in Ukraine, political instability in the country and the bankruptcy of Russian tour operators. Analysis of Ski Apartments Bulgaria indicates upward trend and gradually return of the British buyers which perform 40% of investors. Strong pound against the poor euro and falling mortgage rates provide excellent prerequisites for profitable investment on real estate market as Bansko. On the other side, there is increasing interest from Bulgarians, Greeks, Ukrainians and small percentage of investors from Western European countries.

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