Real Estate Prices in Bansko Continue to Fall

The first market to be affected by the real estate crisis in Bulgaria was the one dealing with vacation properties and village houses. Gradual stabilization started back at the end of 2011 but rates are slow and uncertain.

A slight rise in the real estate market has been observed since the beginning of the year but despite the increase in transactions, the average price of properties has fallen.

According to the data of Bulgarian Properties, in the first 3 months of the year, the average price of sold condos in Bansko was about 370 euros per square meter, which in reality is a 2.6% drop when compared to the preceding trimester.

A similar pattern can be observed in other Bulgarian ski resorts as well. The average price per square meter of a condominium in Pamporovo is also about 370 euros. The most expensive properties are in Borovets, where a square meter costs an average of 630 euros.

Russian citizens continue to be the main buyers of vacation properties. Bulgarian real estate agencies' data shows that the Russians still prefer the winter resort Bansko, while properties in Borovets are usually purchased by Bulgarians.