For sellers

Developers offload cheap stock and flood Sunny Beach market

01 March 13

In an attempt to offload stock and attract the attention of buyers, many developers have sprung back to life with considerable Russian marketing campaigns offering unbeatable Sunny Beach prices. Silent for years, developers were priced out of the market by private vendors who could afford to sell their Bulgarian assets for less, however seemingly this is now changing.


Several large developers have launched persuasive marketing campaigns offering Sunny Beach studios from 10,000 Euros and 1 bedroom apartments from 19,000 Euros, considerably lower than any prices we see in the true marketplace. Having thoroughly researched the offers, it transpires that the heavily discounted offers flooding the Russian market are substandard properties, lower ground floor locations, previously basements or offices without any residential or touristic design or functionality. Still technically a property and genuinely available at these prices, but not exactly as described on the tin, which serves as only more stiff competition for vendors who are looking to sell their Bulgarian properties.


Whilst many buyers will shop around and realise such offers are too good to be true or indeed too distant from the property they wish to buy, this tactic has the unfortunate downside of influencing the active buyers at the lower budget end. The enforced awareness of these remarkable prices has effectively set a new low for Sunny Beach, causing agents to struggle to prove the value difference between the glossy ads and the genuine private offers available. All new enquiries now come preloaded with preconceived ideas of apartments at these prices, which is hard to combat and collectively it only encourages prices down.