0
Hello,
Favourite properties (0)
Saved searches
Selected for you
Notifications
Subscriptions
Settings
Sign out
Close

Bulgarian Holiday Property Market as Presented on the Balkan Real Estate Conference (BalREC)

2008-04-17   |  Polina Stoykova, BulgarianProperties

BulgarianProperties, as a leading company on the holiday and residential property market in Bulgaria, and its CEO Mr. Mihail Chobanov participated in the Balkan Real Estate Conference – Bulgaria, Romania, Serbia (BalREC) held at the Kempinski Hotel Zografski in Sofia 15-16 April. The main points of interest at this conference were the macroeconomic frame, the residential, office and holiday property markets in Bulgaria – what the problems are, what lessons should be learnt and what the future will bring. Mr. Chobanov was a moderator and key speaker on the panel about holiday properties in Bulgaria.

We have summarized the current trends on the holiday property market as presented on the conference.

After 3 very successful and dynamic years for the holiday property market, the overview of its current situation is:

• calming of the market and lower interest in it since the end of 2007;
• large amount of new complexes, especially those of lower quality, are for sale making the supply exceed demand;
• no increase in prices of holiday real estate;
• a shift of the main buyers – from British and Irish to buyers from Russia and Eastern Europe.

The experts comment that what is happening on the market is actually a normal market process after the property boom. It will persuade the small, incompetent or speculative investors and builders to leave the market, the professional companies will remain and will be able to offer real quality and successful and attractive projects, best matching the interests of the end buyers and providing them with a secure investment.

The holiday property specialists participating in the conferences pointed out that the Bulgarian buyers will start to play a more and more important role in the holiday property market. Bulgarians still only account for a small number of the total buyers, being mainly young people from Sofia, Varna and other big cities. Their number will continue to grow in the coming years because of higher disposable incomes and search for better lifestyle standards. A sign for this trend is the increased tourist interest by Bulgarians to the Bulgarian resorts, which is the first step, leading to property purchases there.

The answer to the question “what do foreign buyers seek when searching for holiday properties?” in Bulgaria can be summarized with: “Things they don’t have at home.” Bulgaria has unique nature, it is easily accessible by plane from all European countries, Russia and also Turkey, its resorts are close to airports and one can be at their holiday home after a couple of hours flight followed by a short trip by car. “Bulgaria has a very good geographic location and natural resources. It just needs more careful planning and more country marketing”, said Joseph Halbherr, Managing Director of ACR Hotel Experts. He also added that there are still many tourist places to uncover in Bulgaria – great historic monuments, Thracian ruins, mineral springs and many more. Bulgaria should attract tourists using its richness in nature, history and culture, the same way as the Greeks and Egyptians do very successfully.

The main features of the attractive holiday properties, which will continue to attract buyers, will be:

• Reasonable prices;
• Quality of materials and construction;
• Excellent location of the properties;
• Property management and maintenance;
• Various facilities and amenities provided within the complexes and
• Hassle-free purchase and possession – provided only by the leading estate agencies.

The ideal holiday property can be described as a property that serves the purpose of a holiday home and corresponds to the lifestyle one wants to achieve. It should also generate sufficient yield and if one wants to sell it, to be able to get a higher price.

Mr. Mihail Chobanov stressed that although there are major changes and shift in demand of holiday properties, this real estate sector will continue to attract investors and buyers, especially if the lessons are learned. He summarized the advantages of the Bulgarian holiday properties as:

• still lower prices than all other European countries;
• balanced and reasonable prices because of the current market processes;
• increasing quality of projects, materials and construction due to customer demand;
• Bulgaria is a secure investment destination according to economic reports;
• Bulgarian capital of Sofia is to develop as a city ski resort in the coming years as plans announced by the Sofia Chief Architect Mr. Petar Dikov.

Most importantly, the key elements of a successful Bulgarian holiday property market will be: quality, improving infrastructure and excellent planning control. And, of course, location.

Share
Central Park - the best-selling new development in Sofia in 2024!
Homes for sale in one of the largest new construction developments in Sofia!

A unique gated complex recreating the style and atmosphere of New York's Central Park. Modern buildings, space, greenery and breathtaking views! A future icon of the Bulgarian capital that will bring a new standard for quality of life. Choose your home now - big choice and attractive prices!
See More
Hot properties in Bansko - the best offers are here for you! ❄️
Buy your own property in the top ski resort in Bulgaria! An all-year-round resort suitable for winter and summer tourism with the best prices in Europe! Holidays in your own property without the need for hotel reservations!
See More

More News

Company news
BULGARIAN PROPERTIES Agents of July 2025 🏆

Your experts in a fast-evolving Bulgarian property market!

June was an impressive month for the real estate market and a strong close to the first half of the year. Deals were finalized at a high pace, we opened a new office in Sunny Beach, launched operations in Shumen, appeared in national media, and reaffirmed our leading market position!

We are proud to present o...

02 July, 2025
Press & Media
What to expect for housing prices in Bulgaria after the introduction of the euro?

Property prices in Sofia are still significantly lower than those in other European capitals

How will the property market in Bulgaria change after we join the eurozone? This is a key question for both property owners and those considering a purchase. Will prices rise? Will there be a slowdown? Should I buy, sell, or wait?

The experience of other countries shows that a...

30 June, 2025
Company news
BULGARIAN PROPERTIES expands its operations with a representative in Shumen

We are pleased to announce starting operations in Shumen area, with which we continue to pursue our mission – to be present in every region of Bulgaria, providing you with professional service, security and full support in real estate transactions.

Our new regional representative for Shumen and the surrounding areas is Galina Kirilova – a licensed real estate appraiser...

23 June, 2025
Company news
BULGARIAN PROPERTIES now at a new address in Sunny Beach!

New season, new office, same trusted team!

With the summer season upon us, we are pleased to announce that the BULGARIAN PROPERTIES office in Sunny Beach has moved to a new location!

Our team welcomes you in Trakia Apartments complex, on the ground floor - right opposite T Market store.

📅 The official opening took place on 7 June 2...

10 June, 2025

REQUEST DETAILS