Fewer and fewer customers in Bansko and Razlog, about 67% of the supply of holiday property in the mountain resorts is concentrated in the region. As a result of the credit crunch and the overbuilding the rate of unsold holiday property in the area of Bansko and Razlog grew with 50 percent in 2007 H2.

As of the end of 2007 about 60% of the apartments for sale in the region have not found their owners yet according to a report of Colliers International. Last year was among the strongest for the sector. The supply volume grew with 170%, or 28,300 units. The overbuilding is mainly a result of careless planning at the time, the current projects are of far higher quality. The developers and the local authorities will be more careful with the new projects and their infrastructure as the clients are getting more demanding. One of the effects is expected to be the decrease of the price gap between lower and upper end of holiday property. The demand for property under construction selling at lower price levels started decreasing. The new customers type are interested in completed projects for personal use mainly on the Black Sea coast. By the date of Colliers about 35% of the projects there are concentrated in the northern part.


This News is listed at news.Guide-Bulgaria.com

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