.jpg)
Bulgaria’s property market has recorded its strongest local demand in 10 years. Experts believe this points to prospects for dynamic growth in the Bulgarian property market.
For example, property in Sofia and Plovdiv rose in price by 6% year on year, yet the number of purchases and sales in these cities increased by almost a third. In Burgas and Varna, however, transaction numbers grew by only 3–5%, owing to the weak tourist season and the resulting reduction in local residents’ incomes.
Experts also noted that demand in the local housing rental market exceeds supply by almost two to one. In major cities, rents range from €2.5 to €5 per square metre. One- and two-bedroom apartments in central areas are generally in demand. In Plovdiv, however, there was also strong interest in private houses close to the city.
