The Bulgarian real estate market continues to set records. According to the European statistical office Eurostat, the cost of housing in Bulgaria increased by almost 40% from 2010 to the second quarter of 2021.
If in 2010-2014 the cost of Bulgarian “squares” was more or less stable, then since 2015 there has been a rapid growth, which has not stopped until now.
So, according to the National Statistical Institute, in the second quarter of 2021 compared to the same period in 2015, property prices increased by 46%, and compared to 2020 - by 9.1%. (see NSI statistical report
For this indicator (annual 9.1 percent growth) Bulgaria is ranked 13th among the 27 member states of the European Union.
The main reason for the rise in housing prices is the constantly growing demand. He is connected, firstly, with inflationary expectations in the coming winter due to gas uncertainty. In this situation, many want to play it safe by profitably investing free capital. Secondly, with favorable terms and the availability of mortgage loans.
It is difficult to predict what will happen to property prices in Bulgaria next. In winter, the price level is likely to stabilize, but there are no prerequisites for stopping the annual growth.
Source: Investor.bg
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