10.07.2014 Property sales up in Sofia and the resorts
According to the Registry Agency, an increase of 1.3% was registered in the capital Sofia on an annual basis. In Q2 of 2014 the number of deals in the capital Sofia is 5157, which makes about 85 sales per working day on average.
The housing market in the country is stable and this is also confirmed by the increased number of new mortgages signed during the period April-June, which are 7,865 or 5% more than the same period last year.
A growth of 12% in sales was reported in Nessebar, which includes sales of properties in areas around Sunny Beach. Sunny Beach and the region are traditionally popular among the Russian buyers and their interest helped this segment to emerge from the crisis.
There is a significant increase in the deals signed in the spa resorts like Velingrad and Sandanski.
The ski resorts that attract an interest of Bulgarians are Borovets and Pamporovo, which saw a growth in sales as well. The sales in Samokov, where are registered the deals with properties in Borovets, increased by 10%, while in Smolyan and Chepelare sales rose by 23.6% and 27.5%, respectively.
The decline in sales in Bansko and the region continues - the deals registered in Razlog decreased by 12% compared to the second quarter of last year.
In the second half of the year the property market traditionanly becomes more active. We expect more sales to be concluded in the coming months before the end of the year which will once again confirm the market is at a new stage of recovery and steady sales growth.
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We are slowly returning to our normal everyday lives and the Bulgarian property market is experiencing a growing demand and a rising volume of deals after the corona virus lockdown.
Here are the present market trends which mark the start of a new beginning for the property market in Bulgaria:
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The average selling price of residential properties in Bulgaria's capital Sofia increased by 4.0% on an annual comparison basis in the first quarter of 2020, local company Bulgarian Properties said.
The average price of dwellings in Sofia reached 1,120 euro ($1,219) per sq m in the first quarter, the realtor said in a quarterly property market analysis published last week.
High activity during the first 3 months of the year and acceleration of the price growth to about 4% on an annual basis. This is how the real estate market in the Bulgarian capital of Sofia developed until mid-March, when the state of emergency was introduced and many economic activities where put on hold.
Average Prices and Annual Change
In the first quarter of 2020...
BRITS could return to Bulgaria's Sunny Beach as soon as July as the country reduces its lockdown measures.
To encourage tourists, beaches will also offer free loungers, sun beds and tables when they open again for business.
Bulgaria has managed to keep coronavirus cases relatively low - the country has reported just 1,704 infections, and 50 deaths.