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Sunny Beach prices slump as Russian vendors flood the market.
18.06.2015

Having survived a year of austerity, cash strapped Russian owners are offloading Bulgarian assets in vast numbers.

 

In an ironic twist of fate, five years after oil prices peaked and Russians saved western owners from despair by sweeping in with their recently pumped from the ground money, western sanctions have catalysed recession in Russia and collapsed the Rouble, stifling demand for western owned Bulgarian properties in the process. An uncanny sequel to the British and Irish post credit crisis exodus, droves of Russian owners have dropped their asking prices and are now fleeing the market, it seems that history is repeating .

 

Still reliant on Russian interest for almost all 40,000+ Euro sales, this is very bad news for the Black Sea coast market as a whole. Ukrainian interest can sustain the 10-20,000 Euro market, studio sales at the market price are in healthy demand, but for anything worth more there is now a demand vacuum and whilst agents scratch their heads wondering how to fill it prices continue to tumble around them.

 

Perhaps the best time to buy an record low Sunny Beach apartment? Certainly the rental returns suggest so.

 

See below an offer currently available (at the time of publishing) in one of the better central Sunny Beach complexes, Dawn Park Deluxe, where 30,000 Euros will buy a fully furnished 2 bedroom property a few minutes from the beach.

 

Gross rental income achievable is 2,500 Euros, generating a gross annual return of 8.3%.

 

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Gorian Varbanov
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Gorian Varbanov
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Irina Dalgopiatova
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Irina Dalgopiatova
Irina is one of the editors of the website. She is always looking for good stories and relevant information. Irina has a degree in literature and has been involved in Bulgarian properties for more than 3 years.
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