Special report: Beach property sales Summer 2014

The summer season this year has been quite successful for the sales of seaside holiday properties in Bulgaria. According to data collected by BULGARIAN PROPERTIES, beach property sales have increased by 10% this summer.

There is an increased interest to properties in Varna and in the resorts nearby, as well as to properties in Burgas, in Sunny Beach and on the Southern Black Sea coast.

Russian buyers continue to be the most numerous clients - currently they account for about 80% of the buyers on the Bulgarian seaside. However, there are buyers from various other countries as well. We can now confirm there has been a steady return of the British buyers. The other buyers of beach properties include people from Bulgaria, the Check Republic, France, Ukraine, Romania, Belgium and even Australia.

There is a trend for an increase of Bulgarian buyers of beach properties. They are interested in premium class complexes to the south of Burgas - in the resorts of Lozenets and Sozopol.

The buyers are increasingly looking for properties in the new generation of new build complexes, often even still in process of construction.

The average price of the apartments sold in Sunny Beach in the first half of 2014 was 36,000 Euro compared to 31,400 Euro in H1 of 2013, according to data from BULGARIAN PROPERTIES. In Q2 of 2014 the average price per square meter in Sunny Beach has gone up. Our data shows that it was 610 Euro/sq.m. compared to about 550 Euro/sq.m. in the previous quarter and a year earlier.

Our expectations about the holiday market in Bulgaria are positive as it has proven to be stable. This stability is based on the attractive property prices that have been reached over the past few years and the excellent competiveness of the real estate properties in Bulgaria compared to other European markets.

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