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Bulgaria ranks sixth in demand for real estate

Thursday, Dec 18, 2008

English-language countries have shown a remarkable interest in Bulgarian property, according to data from Globaledge Portal, which has more than 1.4 million international orders for real estate from around the world.

The analysis is based on demand from the English-speaking world (UK, USA, Australia, Ireland and Canada), and the information was categorised and processed for each country and dates from September until December 2008.
The English speaking world's love affair with Spain continues with Spanish real estate by far the most desired. Tenerife, Majorca and the Costa Blanca are all more popular destinations than Paris or most French destinations, bearing in mind that France occupies second places.

Perhaps the biggest surprise in the research is Portugal, which ranks last of the 11 countries listed. Having accumulated only a meagre three per cent of votes from clients and having only generated three per cent of interest for purchase, Spain's sunny neighbour is at the bottom of the pit. Portugal not only lags significantly behind other traditional destinations such as Spain, France and Italy, but recent reports indicate that Portugal's real estate in 2008 became increasingly expensive, losing its competitive edge in the process.

The Middle East ranks fourth with 8.6 per cent of total demand volume. Over 70 per cent of the applications for real estate in the Middle East are all centred around one particular area – Dubai.

Central and South America are ranked fifth with eight per cent of total demand on the Internet. Panama is the most popular destination with 20 per cent, followed by Mexico with 11.4 per cent.

Bulgaria ranks sixth out of eleven, with 7.2 per cent interest. Seventh place is occupied by Cyprus with 7.1 per cent followed by the Caribbean with 5.6 per cent. Jamaica was the regional leader with 12.9 per cent of the pie, followed by the Dominican Republic with 6.6 per cent.Eastern Europe is ninth, with 5.4 per cent and Turkey is tenth with 4.6 per cent.

The analysis is extrapolated from a database of clients in the United Kingdom, USA, Australia, Ireland and Canada, countries that do not themselves participate in this particular list.

Nick Iliev

Source: PropertyWise Bulgaria