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Coronavirus pandemic sends up demand for country houses

2021-02-17   |  novinite.com

In 2020 the purchases of houses in the countryside have increased by 20 percent in Bulgaria. The interest in rural properties is not new to the home market, but is growing because of the pandemic, and real estate brokers expect the trend to persist in 2021 and coming years, informs Trud daily.

Because of the months spent at home, more and more people are considering the possibility of buying a second home in a village or changing their narrow apartment in the city for a house with a yard. Most families buy rural properties in order for families to spend there part of their summer holidays, as well as weekends and other holidays, but some of them will also make it a permanent home, especially people who can afford to work from home. Houses in villages were the hit on the realty market in 2020. "The best properties sold out very quickly and in some places there is already a shortage and the attractive offers are hard to come by," says Polina Stoykova, CEO of a real estate company. The most sought-after are the houses ready for moving in, which do not need major renovation.

The greatest demand is for houses near the major cities - in Bankya (near Sofia), as well as in the areas around Plovdiv, Varna and Veliko Tarnovo. Around Sofia villages are mostly preferred within a radius of up to 50 km, and around Plovdiv and Varna - up to about 30 km. There is also greater demand for the villages around cities that are one or two hours away from Sofia, and it is generated by people living in the capital and not only by residents of these cities. The reason is that the houses near Sofia are more expensive, and at an hour away people can find much more advantageous offers.

Home buyers are mostly families with children, as well as people with occupations that allow them to work from home. Young people buy houses as their second home to use only on weekends and in summer. The reason for this is not only the office duties, but also the children who have to go to school or kindergarten every day.

Property buyers in their 30s and 40s are looking for more space for their family, independence and comfort. That's why they're opting for the country houses.
Big cities cannot provide them with the freedom and spaciousness a village offers.
But there are also buyers who are approaching retirement age and want to move to a more relaxed place in a few years. They intend to live in the country permanently. Some of the elderly decide to give up their apartment in Sofia and leave it to their children or rent it out.

Sellers of country houses are most often heirs who need money and cannot look after the property, or developers who have renovated the house for resale at a higher price.

Bulgarians who have moved to live permanently abroad, also sell village properties, as well as foreigners who withdraw from their investment and sell the properties bought in our country. There are also guesthouses on the market waiting for new owners.

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