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What happened on the seaside holiday property market in 2023?
Polina Stoykova joins us from Sveti Vlas to tell you what happened on the beach holiday property market last summer.
The holiday property market remained active in Summer' 2023. Prices continued to rise, but at a slower pace. The average prices at which deals were concluded were between 800 and 1,000 euro/sq.m. for the area of Sunny Beach and just over 1,000 euro/sq.m. in Sveti Vlas.
The buyers were both Bulgarians and foreigners. The demand is mainly for studios and one-bedroom apartments. Supply continues to be limited. It consists of completed and furnished apartments on the secondary market, as well as new developments, which are offered in the stage of completion of plastering or turnkey-ready.
Compared to last year, prices have increased significantly. If then we could buy a one-bedroom apartment for 30,000 - 40,000 euro, now there are no such prices. Even studios are hard to find in this price range.
In recent years, the prices of holiday properties have risen faster than even those in the big cities, reaching up to 30% growth.
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