[size=55:81ayn0u6]novinite 31 August 2010

Brits Lose Interest in Bulgarian Properties

The credit crisis has significantly decreased by 64% the interest of British citizens to real estate in Bulgaria, UK property website has announced.

Rightmoveoverseas.co.uk has announced that the requests for search of Bulgarian properties at the website has dropped by 64% for the period July 2008 - July 2010.

With this decrease, Bulgaria has been assessed as one of the “market at lost”, in which the drop of interest is bigger than the average change (-37%) of requests for search in the countries, which used to trigger more than 1000 requests per month.

“Two years after the beginning of the credit crisis, it is clear that the property market abroad is totally different. Much of the market dynamics have disappeared. Some believe it is a good thing. So you would have difficulties finding a random investor , who would want to make a quick profit through reselling apartments, located at extraordinary places,” said Robin Wilson, Head of Overseas at Rightmove.

Wilson has explained that only a few countries have managed to go back to their positions from 2008 and there have been huge differences in the speed of the recoveries.

Dubai has been severely affected, experiencing a drop by 80%, compared to July 2008. Eastern Europe has also lost popularity in the UK.

On the other hand, the Netherlands and Germany have registered 37% and 32,7% increase in comparison to 2008.

Although it has a drop by 11,57% in comparison to 2008, Spain is actually in the category for the countries with good results and it is recovering twice faster than France.

The countries that have good results, according to the website, are the ones who have a drop smaller than the average change, which is -37%.

As far as Bulgaria is concerned, I don't think it is all down to the credit crisis, and at this point I won't go down my usual reasons as to why, because you know them anyway, but I will just mention one thing that I think is very relevent. AIRLINES AND FLIGHTS. Reduced number of flights, BA strikes, changing flight day's to weekday's and most important of all, PRICES. :Very sad:Why would anybody want to pay £250.00 to £300.00 for a return flight to Bulgaria when they can pay £99.00 for a return flight to Gran Canaria, OK it's a charter flight, but so what

willowsend wrote:

As far as Bulgaria is concerned, I don't think it is all down to the credit crisis, and at this point I won't go down my usual reasons as to why, because you know them anyway, but I will just mention one thing that I think is very relevent. AIRLINES AND FLIGHTS. Reduced number of flights, BA strikes, changing flight day's to weekday's and most important of all, PRICES. :Very sad:Why would anybody want to pay £250.00 to £300.00 for a return flight to Bulgaria when they can pay £99.00 for a return flight to Gran Canaria, OK it's a charter flight, but so what

Hi All,

Another reason is that many developers didn't complete their projects and bankrupted. As a result the UK investors preffered to lose their first or second instalment, but to stop paying for a complex which is not going to be comlpleted. The UK investors are disappointed.
On the other hand these one who are owners of completed apartments and rent them through Real Estate Agents are lied by the agents. The agent rent the apartment, but doesn't send the rental income to the apartment owner. So, many property owners prefer to sell their apartment in Bulgaria, but not to allow to be lied.

Bulgarian Property Lawyer
[url:2zsfji41]http:
//www.
BulgariaPropertyLaw.
com[/url:2zsfji41]