Holiday houses in Bulgaria, half a price of those in Romania

Romanian seaside houses are 50% more expensive than the ones on the Bulgarian seaside, shows a study of a real estate agency quoted by Romanian news agency NewsIn.

The difference is bigger when it comes to mountainside houses as the price of such a property in Romania's Carpathian Mountains is 70% bigger than that of a similar one in Bulgaria.

In Varna, the biggest Bulgarian city on the Black Sea coast, two room apartments sell for 43.000 euro while in the Mamaia resort on the Romanian seaside such an apartment costs 120.000 euro.

Analysts claim that the real estate market in Bulgaria had practiced very attractive prices even in tourism resorts. Foreign investors in Bulgaria are business men who rent apartments for their holiday.

When it comes to houses in the Sunny Beach tourism resort, the costs raise to 90.000 euro in a residential complex.

However, in Romania, a 3 room apartment in a seaside tourism resort costs more then 120.000 euro.

In the mountainside, a two floor household in Pamporovo, 260 km away from Sofia, can be bought with 40.000 euro while in Romania, Sinaia, 150 km away from Bucharest, one such property costs more than 65.000 euro.

According to the study, the Bulgarian rent apartments market is similar with that in Romania. Thus, a two room apartment in an extra central neighborhood can be rented at the price of 250-350 euro while in the central part, can rise at 350 euro.

HotNews.ro, Jul 16, 2007