Taking advantage of Bulgaria's property market conditions

April 17, 2011 - PRLog -- Over the last two years many buyers have withdrawn from the market while others have become much more demanding. While the luxury property sector and major commercial development purchases have remained relatively buoyant, the impact on the mainstream market has been more dramatic. The supply of properties has increased and prices have fallen considerably. As a result, the main focus of interest for today's buyers is towards properties with bargain prices, which now make up the majority of completed deals.

Current data shows that from the peaks of 2008 through until 2010, average prices across the country have fallen by ...

* 44% for all properties around the country
* 30% for city apartments in Sofia
* 29% for houses and apartments in Varna
* 41% for ski apartments in Bansko
* 62% for beach apartments in Sunny Beach
* 67% for rural properties

... which, of course, is extremely good news if you are planning to buy property today. If you're selling, though, this may not appear to be too much of an advantage because it is likely that you will have to accept a lower price than you want.

But, consider: you are selling today at today's market price, rather than at the demand inflated prices of a couple of years ago, which has to be a good thing for the dynamics of the market as a whole. And will you be losing money on the deal? .. well, not really, because that has probably happened already when you paid more than the actual value of your property at the time of purchase. Perhaps the biggest advantage of being a seller in today's market, however, is that you can re-employ the funds from your sale and become a buyer again, which puts you in the dominant market position.

So, although you might have to think a little bit outside the box, selling today is not really about generating a profit - or even necessarily about recovering all the money that you spent on buying and maybe re-furbishing your property in the first place. Selling today is only a problem if you insist on pricing your property at a level that is too high for the market, rather than accepting the price that the market dictates and the buyer will pay. The best advice is to bite the bullet, take the money and, ideally, move on to your next purchase. In other contexts, this is often referred to as 'flipping' or 'down-sizing' - neither of which is seen as a problem ...

References:
Web: http://www.movetobg.com
Blog: http://movetobg.blogspot.com

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