21.07.2008
According to the Bulgarian daily newspaper Trud (Labor) many foreign citizens, who had purchased real estate property in the Bulgarian capital of Sofia with investment purposes, are currently beginning to sell them out in order to make a profit.
This new trend was reported on July 17 and is based on data of the real estate agency Yavlena.
According to this data, in addition to individual sellers, foreign investment funds, mostly from the UK and Spain, are also taking part in this trend since many of them have acquired entire buildings with dozens of apartments.
The data reveals that the sales by foreign owners constitute about 10-15% of the apartment deals on the market.
Most of the apartments offered for sale were bought “off plan” in 2006-2007 while they were still under construction. They are now finished and listed for sale for much greater prices.
The newspaper points out that an apartment, which was bought for EUR 50 000, could now be sold for EUR 80 000.
According to the Yavlena Agency, these deals were beneficial for the buyers as well because the foreign citizens were ready to sell the apartments immediately.
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Foreign Real Estate Owners in Bulgaria Sell Properties for Profit
According to the Bulgarian daily newspaper Trud (Labor) many foreign citizens, who had purchased real estate property in the Bulgarian capital of Sofia with investment purposes, are currently beginning to sell them out in order to make a profit.
This new trend was reported on July 17 and is based on data of the real estate agency Yavlena.
According to this data, in addition to individual sellers, foreign investment funds, mostly from the UK and Spain, are also taking part in this trend since many of them have acquired entire buildings with dozens of apartments.
The data reveals that the sales by foreign owners constitute about 10-15% of the apartment deals on the market.
Most of the apartments offered for sale were bought “off plan” in 2006-2007 while they were still under construction. They are now finished and listed for sale for much greater prices.
The newspaper points out that an apartment, which was bought for EUR 50 000, could now be sold for EUR 80 000.
According to the Yavlena Agency, these deals were beneficial for the buyers as well because the foreign citizens were ready to sell the apartments immediately.
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