How much is a property in Sunny Bulgaria? What happens to the cost of the Bulgarian "squares" in 2018 and in which direction the market is moving? What regions of Bulgaria the most attractive from the investment point of view? The answers to these questions in our review.
Trends
- The Bulgarian housing market has fully recovered from the effects of the 2008 crisis. For the third consecutive year the cost per square meter of residential real estate increasing by 7-10% annually in major cities of the country growth of 10-15%.
- According to the National statistics Institute, the year 2017 has become for Bulgaria one of the most successful in the post-crisis period.
- In the first 9 months of 2018, the growth rate is kept approximately at the level of last year. The upward trend in the property market, according to experts, will also be in 2019-2020
- The growth in property prices is attributable primarily to domestic demand, driven by economic growth, low mortgage interest, and a lack of supply of quality housing.
- In 2017-2018, an increase in the number of transactions made by foreign buyers: citizens of Germany, great Britain, Israel, Russia and the CIS.
- Despite the increase in the value of the property, Bulgaria is the best destination in Europe for investment. Apartments and houses here are much cheaper than in other resort countries of the EU.
Dynamics of prices for 2017
Throughout 2017, there has been a steady growth of real estate prices on both the primary and the secondary market. The table below demonstrates the rate of growth of prices for new housing and "secondary" in comparison with similar indicators 2016 (the table used data from the National statistical Institute).
| Category | Quarters 2017 / change in % compared to 2016. | |||
|---|---|---|---|---|
| Type of property | I | II | III | IV |
| Total change | +9,0% | Is +8.6% | +9,0% | +8,2% |
| New housing | +9.4 percent | +7,3% | +5.5% of | +4,7% |
| Resale | +8.7 percent | +9.2 percent | +10.9 per cent | +10,0% |
To trace the main trends in the article: an overview of the real estate market in Bulgaria.
The cost of real estate in Bulgaria to 2018
According to official statistics for the 3rd quarter of 2018, the growth of prices on the Bulgarian housing compared to 2017, the company continued��me. The growth rate in the country, according to the INE, made up 7-10%, in the major cities of Sofia, Varna, Bourgas housing rose on average by 10-15%.
Property prices in Bulgarian resorts in 2018:
| Category | Price | The average price per sq. m. |
|---|---|---|
| Studio | 7 from 770 € | 350 € |
| Two-bedroom apartments | from 15 000 € | 500 € |
| Two-bedroom apartment | 18 400 € | 500 € |
| Four-room apartments | from 40,000 € | 850 € |
| House on the coast | from 48 000 € | 650 € |
| Property by the sea | 15 000 € | 600 € |
| Real estate in the mountains | 7 770 € | 310 € |
The value of real estate depends on the quality of materials, remoteness from the sea, number of rooms and seasonal periods.
See the prices of all property types in the catalog BolgarskiyDom.
TOP 5 popular regions for real estate investment
Foreigners are primarily interested in the properties in Sofia and on the coast. Apart from Sofia, the TOP 5 most popular destinations are as follows.
| The price per sq. m. | |
|---|---|
| Varna | from 660 € |
| Burgas | from 430 € |
| Sunny beach | from 300 € |
| Sveti Vlas | from 450 € |
| Sozopol | from 600 € |
Read our stuff: Where it is better to buy a property in Bulgaria?
