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Hotels are selling out on the Bulgarian coast

23 Nov 2011

Hotels are selling out on the Bulgarian coast

Because of the recession of economic activity, debts and market flooding , a new niche - sale of hotels appeared at the Bulgarian property market. Now hotels on the Bulgarian black sea coast can be purchased practically dirt-cheap.

Important reason resulting in the height of offer for a sale hotels in Bulgaria is the market supersaturating that appeared from enormous investments in building of the resort real estate for the last 5.

Only two years ago, when Bulgaria entered the European Union, experts designated a healthy height for its property market in all segments.

Today the proprietors of hotels in the coastal area and mountain districts of Bulgaria are in a not good situation. After dull, from a tourist point sight, winter season and summer anaemia they forced  offer hotels for a sale.

The real estate agencies show that the majority of the resort real estate is for sale on the south Bulgarian coast of the Black sea, especially on the resorts such as Saint Vlas, Sunny Beach, Ravda and Nessebar, which accounts for 45% offers for a sale.

Most hotels, which are selling now, are fully furnished, with an average area 900 square meters and have 20-25rooms. A middle selling price for the hotels of such type makes 500 000 euros, or 550-650 euros for a square meter. Such hotels are located, as a rule, on the outskirts of the seaside resorts. The small hotels of domestic type are for sale also, in this case prices make 350-450 euros for a square meter.

Experts of the property market say that now is opening  a wonderful possibility for the investments in Bulgarian coast.



Sourse: NEWSru


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Hotels are selling out on the Bulgarian coast