False enthusiasm

Summer is said to be the season which boosts sales in seaside resorts and slows down sales in winter resorts. Not this year. It seems like holiday properties are still slightly above the freezing point and hardly reacts to any market trends.
And while Bulgarian hotel operators complain about the lack of foreign and local tourists, we can only wonder what is left for developers. It looks like there is still a great amount of optimism as developers don’t take actions to reduce prices whether because they still have some capital or because they hope and wait for the next Russian client. So, the cheapest properties offered along the Bulgarian Black Sea Coast – from Albena to Ahtopol -start at 550 euro per sq m. If you pay the sum, you can get a two-room unfurnished dwelling in the resort town of Primorsko. If you’d like to make a comparison, the amount is exactly the same as the one vendors asked the same time last year. Those who search for luxury may find homes for 2,840 euro per sq m but this price is a guarantee that the buyer will get a high-class, furnished home in the town of Balchik with a panoramic view, quite close to the marina. Prices have not changed much for a year. Expensive resorts stilloffer both very cheap and quite expensive properties. So you can buy a home in Sunny beach for 580 euro per sq m, yet you can also find a 90-sq m property for 180,000 euro (i.e. 2,000 euro per sq m). But a 109-sq m flat in the resort of Golden Sands costs 2,530 euro per sq m.  
The summer sun has melted down the hopes that something positive would take place on the property market in winter resorts. If last year investors offered properties in Bansko for 2,300-2,500 euro per sq m, now a 100- sq m apartment in a five-star complex situated close to the ski lift, can be bought for 1,390 euro per sq m. Price decline is observed in other winter resorts as well – Borovets, Razlog, Pamporovo. The only thing remaining is that the number of clients would rise once vendors reduce prices.