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British owners of vacation property in Bulgaria’s coastal and mountain resorts are starting to sell, Novinar daily reported quoting representatives of major real estate agencies. Property Wire reported that on many instances the selling price is lower than the one the property was purchased at.
Experts said that the credit crisis in the UK and US affected the property market. British investors are finding it difficult to pay mortgages. In addition, expectations of high return rate in Bulgaria never came true.
British buyers are no longer interested in property in Bulgaria. The foreign buyers that are taking their place include Scandinavians, Romanians and Russians, yet they are fewer.
Experts said that the credit crisis in the UK and US affected the property market. British investors are finding it difficult to pay mortgages. In addition, expectations of high return rate in Bulgaria never came true.
British buyers are no longer interested in property in Bulgaria. The foreign buyers that are taking their place include Scandinavians, Romanians and Russians, yet they are fewer.
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British owners are selling their vacation property in Bulgaria