In 2011, due to sharp decline in prices the number of transactions on purchase and lease of elite real estate in Bulgaria has doubled, said Vesela Ilieva, executive director of "Unique Estates" company.
Buyers of luxury properties in Bulgaria are mostly local residents 38-45 years old, working as directors and managers of international companies. Among renters dominate foreigners.
Return on real estate increased, that’s why it is more profitable to buy expensive house and lease it out than keep money in the bank. Annual rental income on average is 6,2% of the property value, while income from bank deposit – 6,0%.
Experts of "Unique Estates" company believe that in 2012 prices will remain at the same level, in 2013 prices will rise, because of increased demand and limited supply.