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Bulgaria's holiday property market is changing in buyers' nationalities, the types of housing purchased and prices.
Who is buying?
Bulgarians currently buy the most holiday property, accounting for 35%. What about foreign buyers?
- Ukrainians: 20%,
- British buyers: 15%,
- Russians: 10%,
- Armenians: 10%,
- Poles and Lithuanians: 5% each.
Where do they buy?
The Sunny Beach bay was the most attractive area for buying holiday property in the I quarter of 2016:
- Sunny Beach accounted for 30% of all transactions;
- Sveti Vlas – 20%;
- Ravda– 5%.
The remaining 45% was divided between Varna (25%), Bansko (15%) and Pomorie (5%). Although the I quarter is usually strongest for winter resorts, seaside housing attracted the most purchases!
What do they buy?
One-bedroom apartments were the most purchased in the first months of 2016, alongside studios and two-bedroom apartments. Demand for houses in Bulgaria remains high, but a shortage of listings substantially affected completed transactions!
Prices
Holiday property prices fell by up to 10% in the I quarter. For example, a furnished one-bedroom apartment of 60 m², 5 minutes from the sea, cost €30 000 in summer 2015, compared with no more than €27 000 now!
