Bulgaria property market shows signs of bottoming

Reports are circulating of a Bulgaria property market bottoming out, after price falls that started at the beginning of the year slowed in the second quarter.

In our opinion, it is highly likely that Bulgarian property prices will endure a period of stability, and possibly even growth in the near term. This is because demand is starting to rise again for overseas property, and markets, like Bulgaria are proving to be among the favourites because they offer cheap property that has fallen further in price due to the international downturn.

Of course, Bulgaria still faces problems of over-supply in the most popular locations, i.e. Bansko. But in this, the credit crunch has actually benefited Bulgaria, because it has given birth to a new type of property investor, the type that does their own research and finds the best locations, rather than just following the herding masses to the most popular areas.

For this reason, people aren't just saying, ah Bulgaria isn't good because of the over-supply, they are saying: yes Bansko does look a little crowded with similar properties, and that is pushing down prices, but let's look around and see if we can find the next Bansko and make a killing as it becomes popular, or looking for a place that may never be "popular" but where stable demand will give them stable rental returns and impressive growth over the long-term.

In that respect, the Bulgarian property market could end up doing better during its recovery than it did before the fall.

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