House
Sales Bulgaria (http://www.housesalesbulgaria.com/)
can report that the number of auctions of property in Bulgaria during the
first few months of 2011 has doubled when compared to 2010. The Bulgarian
Chamber of Private Enforcement Agents (BCPEA) has released data which reveals
that the number of auctions rose to somewhere between 1,500 and 1,600 in
January and February of this year, compared to just 700 and 800 a month in January
and February of 2010.
The Sofia Echo, Bulgaria’s leading daily newspaper, published the findings, quoting BCPEA member and private enforcement agent Mariyan Petkov as saying that the number of auctions of real estate in Bulgaria had ‘soared’ in the first few months of this year. Experts in the Bulgarian property market believe this growing number of property auctions is down to “the growth of non-performing mortgage loans” and a backlog of properties in some areas of Bulgaria which were struggling to find buyers. Property auctions can be a good way for people looking to sell property in Bulgaria to find a buyer, but only if they are flexible on price and are willing to walk away from the auction should their lowest flexible price not be met by any of the auction-goers.
The rising popularity of auctions of property in Bulgaria does indicate a new trend of vendors being more realistic when it comes to asking prices. This pricing to sell, whether through auction or estate agent, is creating far more bargain Bulgarian properties than ever before, which is in turn attracting more buyers to the country. This is helping to revive what was feared to have become a market in stasis. In fact, the Bulgarian property market is looking healthier than it has for a long time, with the International Real Estate Federation (FIABCI) tipping it as a favourite among investor clients and The Sofia Echo’s real estate review in January 2011 stating that real estate agents in Bulgaria have witnessed a “progressive takeoff in activity” of transactions of property in Bulgaria.
View the latest bargain Bulgarian properties to hit the market at http://www.housesalesbulgaria.com/.
The Sofia Echo, Bulgaria’s leading daily newspaper, published the findings, quoting BCPEA member and private enforcement agent Mariyan Petkov as saying that the number of auctions of real estate in Bulgaria had ‘soared’ in the first few months of this year. Experts in the Bulgarian property market believe this growing number of property auctions is down to “the growth of non-performing mortgage loans” and a backlog of properties in some areas of Bulgaria which were struggling to find buyers. Property auctions can be a good way for people looking to sell property in Bulgaria to find a buyer, but only if they are flexible on price and are willing to walk away from the auction should their lowest flexible price not be met by any of the auction-goers.
The rising popularity of auctions of property in Bulgaria does indicate a new trend of vendors being more realistic when it comes to asking prices. This pricing to sell, whether through auction or estate agent, is creating far more bargain Bulgarian properties than ever before, which is in turn attracting more buyers to the country. This is helping to revive what was feared to have become a market in stasis. In fact, the Bulgarian property market is looking healthier than it has for a long time, with the International Real Estate Federation (FIABCI) tipping it as a favourite among investor clients and The Sofia Echo’s real estate review in January 2011 stating that real estate agents in Bulgaria have witnessed a “progressive takeoff in activity” of transactions of property in Bulgaria.
View the latest bargain Bulgarian properties to hit the market at http://www.housesalesbulgaria.com/.