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News: Bulgaria>> Irish property owners sell their Bulgarian estates at half-price

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Current date: 2010-02-09 09:28

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Irish property owners sell their Bulgarian estates at half-price

Properties: Tuesday, 2009-08-18 08:22
Article by: StandartNews

Irish property owners in Bulgaria are willing to sell their estates at half-price provided they are offered immediate cash payment.

"The reason is the global crisis," holiday property expert Ann Collins told inverstor.bg. The crisis hit the pockets of many Irish citizens, who are therefore ready to make a good riddance of their so-called second homes in Bulgaria`s mountain and seaside resorts by slashing off half of their property`s actual price a year ago.

"Holiday property prices are plunging not only in Bulgaria, but also in many of the world`s most famous resorts," Collins confirmed. "The real estate markets in Spain and the US suffered far more than the one in Bulgaria," Collins added.

Currently, a 41-square-metre one-bedroom flat in Sunny Beach Black Sea resort sells at the auction price of 40,000 euros, at property-auction.biz, however, it reads in the site that the flat could be instantly sold to a buyer that offers 20,000 euros cash.

Scope: Sea resort Sunny Beach;

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