The real estate story

Real estate continued to be one of Bulgaria’s talking points and treasure troves in 2007. Whatever the reason – momentum from previous years, good advertising, price speculation and a construction boom – hundreds of millions of euro worth of real estate changed hands in Bulgaria. If in previous years the market was driven by British clients seeking family houses in villages, in 2007 things changed. According to some analysts, interest in holiday properties in Bulgaria among UK buyers decreased by 70 per cent, mainly because of the mortgage crisis in the US and Europe. Despite this, in 2007 Brits continued to be the market leaders. According to research by Green Life Property Development, UK clients accounted for 40 per cent of buyers of holiday homes and Russians 38 per cent. Scandinavians made up 3.64 per cent of the market and Greeks just 1.84 per cent.