City housing prices rise while village houses become cheaper

In the first months of this year, notaries registered 12% more purchases and sales of Bulgarian housing than in the same period last year.

Experts explain this revival in Bulgaria’s property market by saying that people have overcome their hesitation after realising that they cannot keep postponing transactions while waiting for prices to change. Lower bank lending rates have also contributed to the growth of the local property market.

The increase in housing transactions inevitably led to higher city property prices, which have risen by 5–10% since the beginning of the year. However, apartments in the third, fourth and fifth rows from the sea were selling for €10,000–15,000, as investors wanted to sell their remaining resort properties as quickly as possible.

Meanwhile, prices of houses in Bulgarian villages have been falling for several consecutive months. It is now possible to buy a village house with a plot of land for just €3,000.