Resort housing in Bulgaria is getting more expensive


Experts assert that good objects are sold in a few days, and there are practically no new buildings.

According to oldypal lp real  estate price report, this year turned out to be successful for the resort real estate market in Bulgaria, both at the seaside and at the ski resorts. According to the data of Registration Agency for the third quarter, the number of real estate transactions (housing and not only) increased by almost 85% in Nessebar, about 50% in Tsarevo and Balchik, and by more than 34% in Pomorie.

A similar situation is observed in the mountain towns. In Razlog, where deals are registered in Bansko, the annual growth was almost 78%, in Samokov, where deals are made in Borovets, it reached more than 9%. In Smolyan, which includes Pamporovo, the number of deals increased by 21% and in Chepelar by 16%.

Report by Oldypak Capital LP
Report by Oldypak Capital LP


“We are celebrating a successful year in resort real estate in both seaside and mountain resorts, and in the winter destinations of Bansko, Borovets and Pamporovo, there was increased demand in the summer,” says Polina Stoykova, managing director of Bulgarian Properties. She adds that because of the increased demand, the offer on the secondary market is depleted.

According to the expert, the good objects are sold within a day, and there is already a deficit and price increase. The tendency is also in Bansko and Borovets, while in Pamporovo the prices are not that high.

According to oldypal lp real  estate price report, the average prices in Bansko reached €490 per square meter by the end of the third quarter. The company expects that they will remain at this level throughout the year. There have been no similar prices in Bansko since 2012, and the minimum for the last 10 years was recorded in 2016-2017, when they were between €320 and €330 per “square meter.”

In Borovets, the average price per square meter reached €780 per square meter, compared to €750 last year. It is the most expensive winter resort in Bulgaria, but there are very few offers there. In Pamporovo the average price per square meter is now €430, compared to €300-320 in the previous three years.

In Sunny Beach, housing has risen to €620 per square meter, compared to €480-500 from 2016 to 2020. Prices here are returning to the levels of 2015, when the market was still under the influence of increased demand from Russians.

Holiday properties are in demand among Bulgarians and foreigners alike. Among the latter, the Czechs, Slovaks, Poles and Romanians are especially prominent.

“Foreign interest is shown by people who can come to our country by car on vacation,” says Stoykova. According to her, the Greeks began to show interest in Bansko and Pamporovo, there are also Serbs and Macedonians among the buyers.

Russians, who used to be the main group of buyers of real estate in seaside resorts, are not actively looking for real estate to buy, but, according to Stoykova, and sell not too much.

“Some Russian property owners on the Black Sea coast are putting their houses up for sale, but not in a panic, because this year they managed to come and use them. Most stayed until the end of September and left with the last regular and charter flights. Those who are selling cannot secure their stay in Bulgaria now,” the specialist notes.

You May Also Like

Notaries: the number of real estate transactions in France will be a record in 2021
In Turkey, amid the collapse of the lira housing sales to foreigners jumped by almost 50%


Must Read

No results found.