Bansko Property Prices Drop by 70 Percent
The prices of properties in Bansko have dropped by nearly 70-80% in comparison to the peak rates they reached about 8 years ago. We are reminded that during the construction boom, properties in the resort were selling starting from 1300 euros per sq meter.
Today, real estate transactions are happening at prices from about 300 euros per sq meter. The reasons for the price crash are complicated. On the one hand it's due to the overbuilding in the resort, and on the other - the outflow of British clients who in the recent past were buying condos extensively in the winter resort.
This led to an overabundance of properties for sale and therefore - a serious drop in their prices. At this time, the highest demand for properties in Bansko is by Turkish and Macedonian buyers, while Bulgarians generally prefer to buy properties in Borovets despite the higher prices there.
Buyers are primarily seeking condos with 1 bedroom and 1 living room, whose price does not exceed 20-30 thousand euros, depending on the location.
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