Call
Send Email
Messenger
WhatsApp
Vacation Homes in Bulgaria in 2022 - a new chapter for this market segment
Vacation homes in Bulgaria both in the sea and mountain resorts are going through a real boom in demand.
One of the reasons for this is the COVID-19 pandemic and the increased need for a private place for retreat outside the big city (which also brought up the interest to rural houses).
Another reason came from the ability to work remotely, which turned some vacation properties into long-term residences.
And last but not least, inflation made people invest in safe assets like real estate. And vacation homes are very suitable for this purpose, since they do not require very large budgets. Currently, the most sought-after holiday homes vary between €30,000 and €50,000, making them accessible to a wide range of loacal and goreign buyers. In addition, they can be rented out and generate income or at least cover their expenses.
In result of all this, a completely new chapter in the development of this long underestimated segment of the market has now started. A lack of quality offers has been felt since last year and prices have gone up - for the first time in about 10 years.
Sales Volumes
Registry Agency data backs up these observations, showing that amid slowing sales growth in the big cities, transaction volumes in the Bulgarian resorts are seeing staggering growth, turning some of the holiday settlements into leaders in property transaction growth.
Examples of this are Nessebar with nearly 90% growth in the second quarter of 2022, Tsarevo and Smolyan - with 34% each, Balchik - 30%, Pomorie - 17%.
Prices of Vacation Properties
The average price in Sunny Beach, based on real transactions according to BULGARIAN PROPERTIES data, reached 580 Euros/sq.m. in the second quarter of 2022. These are levels close to those from the time of the Russian boom in 2013-2014. The growth is about 100 Euros/sq.m. or by 20% compared to a year earlier.
The same can be seen in the purchase budgets - while a year ago for a 1-bed apartment, between 30,000 and 40,000 Euros were needed, now the prices are about 10,000 Euros higher - 40,000 - 50,000 Euros.
The situation is similar in the ski resorts of Bansko and Pamporovo. The average price of properties there also reached 580 Euros/sq.m. in the second quarter of 2022, and the price increases are 20% and 25%, respectively.
Borovets is the most expensive among the mountain resorts - the average price there is around 850 Euros/sq.m, and the increase is just over 4%.
Sozopol leads in prices in the beach resorts with an average price of 1,030 Euros/sq.m. and an annual growth of about 10%.
To the north, Byala and Kavarna attract a particularly big interest. The average prices there in the second quarter were 670 Euros/sq.m. and 650 euros/sq.m. respectively, and the growth - between 15% and 20%.
View our properties in the beach resorts
Check the offers in the ski resorts
List your property for sale with us! Offices throughout Bulgaria!
Online valuation - check how much is your property worth in this booming market
More News
Bulgaria’s capital has topped the European Best Destinations ranking, putting Sofia in the international spotlight as an exciting place to visit, live and invest in property.
Sofia has been named Europe’s Best City Break Destination for 2027, taking first place in the prestigious ranking by European Best Destinations.
The Bulgarian capital emerged as the...
Bulgaria's property market is entering a more balanced phase, with price growth slowing but no signs of a market crash. At the same time, the country's entry into the eurozone is creating new opportunities to attract international property buyers and investors. These were among the key messages shared by Polina Stoykova MRICS, Managing Director of BULGARIAN PROPERTIES, during an inte...
We are entering the final quarter of the year – traditionally one of the most important periods for the property market.
Following the summer months, September brought the market back to its usual rhythm. Buyers are active again, sellers are moving ahead with their plans, and quality, correctly priced properties continue to find their new owners.
One of the key trend...
We are welcoming Autumn with encouraging signs from the Bulgarian property market! 🍂🏡
August, traditionally one of the quietest holiday months of the year, brought a noticeable increase in activity. The market once again demonstrated that when attractive properties are offered at the right price, buyers are ready to act and transactions can happen quickly.
