Beach property prices decrease 20%, y/y
26.08.2009, 08:32
Investors often sell apartments below their
cost price
The prices of beach properties on the Black-Sea coast have decreased 15 to
20%, year on year. Properties 200-1,000 meters inland have cheapened 60 to 70%,
Valeri Vassilev, owner of Imtoi Bulgaria, said. To attract buyers, investors
often sell apartments below their cost price. This means that either the quality
is very poor or that investors have already covered their
expenses.
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