Most Bulgarians Living Abroad Invest in Property Purchases in Their Homeland
Many Bulgarians living and working abroad are actively purchasing properties in their homeland
Impoverished foreign citizens have started to sell the properties they recently bought along Bulgaria's Black Sea coast.
Because of the economic crisis that has affected them, Brits, Germans and Scandinavians have begun to list their holiday homes for sale at what is described as "scandalously low prices" by the real estate agencies in Bulgaria's Black Sea city of Burgas, cited by BGNES.
For instance, a studio apartment in the town of Sozopol bought for EUR 90 000 in 2008 is now on sale for EUR 40-50 000. A two-storey house in the city of Burgas can be bought for about EUR 50 000, which is a substantial decrease from last year's prices.
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Bulgaria has witnessed a remarkable surge in home loans at the beginning of the year, with loans for households for the purchase of houses and apartments reaching a record high of BGN 20.52 billion by the end of February
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Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion
Amidst the backdrop of Bulgaria's dynamic real estate landscape, all eyes are on the potential impact of the country's imminent entry into the Eurozone
This information was shared during the presentation of data on the current state of the market to journalists
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