YEAR-ROUND FOREIGN DEMAND FOR VILLAGE HOUSES IN BULGARIA

Latest property market tendencies revealed that the sales of village houses was no longer dependent on the season. Usually the demand for houses in villages was higher during the summer, 24 Chassa newspaper wrote. Over the past few years the real estate market registered a steady year-round supply and demand for such property. The majority of the investors iwere foreigners, mainly British and Irish. The number of houses on sale increases as owners of the houses hope for profitable deals with foreign buyers. Recently Bulgarian real estate owners explored ways to attract investors from other countries, including Scandinavian countries. According to imot.bg at present Bulgarian villages offered over 6 000 village houses for sale. The supply was highest in the coastal regions near Bourgas and Varna. The large supply in the Bourgas region led to a 16 per cent decrease in real estate prices since the beginning of 2006. Varna, which offers a smaller number of houses, registered a six per cent increase of property prices.