Sunny Beach – Price per sqm 500-600 Euro

[georgihh]

An article in Bulgarian newspaper is stating that the prices per sqm in Sunny beach are as low as 500 Euro. And further more they are expecting an extra drops in the next few years.
Not the best time to sell what do you do?

[David howe]

Originally Posted by georgihh

An article in Bulgarian newspaper is stating that the prices per sqm in Sunny beach are as low as 500 Euro. And further more they are expecting an extra drops in the next few years.
Not the best time to sell what do you do?

You try to sell it and take what you can, there is an over supply of property bought by foreigners that was not necessatated on the domestic market. If you can get out you should do so as this is a market we predicted would be dictated by the Bulgarian National so the realistic price will be what the Bulgarian will want to pay.

David Howe

Investment Romania - Property Romania, Invest Romania, Investment Romania

[runchev]

I can find you many articles saying the same thing, but still it is not true.
When people say Sunny Beach, they mean very wide area, and you can find maybe a few developments located somewhere in nowhere, no infrastructure, no roads, etc

Give apartments 'in" Sunny Beach (between the main road Burgas - Varna, The stadium of Nessebar and Poseidon hotel and I will sell it immediately

[Regina]

Hi Runchev,

Your statement about selling immiediatly is very bold)

Does that fit into your "hot zone" ?

Ifso I`d be happy to let you sell an apartment I have there. One bedroom, 68sqm overlooking the pool. Naturally we need to discuss the terms before hand.

have you thought of opening a new style property business in Sunnybeach dedicated to reselling apartments? Just read these threads , you can see it seems many buyers are wanting to pull out and are willing to make aloss to do so. This means you can market the properties, undercut the developers by a good chunk and still make a nice margin for yourself. Just a thought.

[Regina]

seems my last post omitted some necessary details...apologies

The apartment I would like to sell is in the Summer Dreams , do you know it? Does it fall into your hot zone ))

many thanks

Regina

[PropertiesOverseas]

It's still possible to get something in Sunny Beach for around 600 euro per sq m. Prices are low and lots of Brits wanting to sell often at a loss. We offer mainly resale.

[westy1963]

Originally Posted by runchev

I can find you many articles saying the same thing, but still it is not true.
When people say Sunny Beach, they mean very wide area, and you can find maybe a few developments located somewhere in nowhere, no infrastructure, no roads, etc

Give apartments 'in" Sunny Beach (between the main road Burgas - Varna, The stadium of Nessebar and Poseidon hotel and I will sell it immediately

runchev, Hi

My brother and I have an apartment in the 'Poseidon Hotel' which we are trying to sell. Just wondered if you had any ideas or contacts regarding selling it?

Regards

Mark

[thetravelbug]

I would imagine you could get apartments at much less than 600 E/sqm now in immediate vicinity of Sunny Beach. So many for sale and so many desperate to sell.

[neggy]

Seems everyone wants to get out of sunny beach. What about Varna? We have somewhere in Primorskie Polk in Varna and feel there is sustainable demand for this kind of property as the level of development is tightly controlled. So there are not the problems of oversupply experinced elsewhere.

Can somone tell me if there are indeed many people in negative equity, that have bought in Sunny Beach etc?

Afterall todays value has to be considered in real terms and in light of the currency shift. Any property purchased in euros is now 2/3's more valuable than 2007.

Depending on the product, and it's location, I don't buy into this 'get out while you can' attitude. I feel there is still longjevity to the Bulgarian Property market. The tourism factor will continue to undepin the market. Bulgaria came out top of the list in a recent poll by the Guardian on countries with low costs of living.

[thetravelbug]

If by Varna, you mean the actual city, then prices are still relatively stable as far as I know, however in the resorts like Golden Sands and Albena, I expect they have taken a downward fall, but probably nowhere near as much as Sunny Beach.

Whether in negative equity depends on whether you purchased in cash or required a mortgage, whether your money was converted from pounds to Euros or you are somewhere that uses the Euro, such as irish investors, who make up a large percentage of those who bought in Sunny Beach and they do not benefit from the Euro/pound rate.

I hope you are right that in the long term things will cover, however for those that purhcased with a mortgage hoping to rent out or who find themselves in other financial predicaments, they have little choice but to try and get out something now.