Market trends in Bulgaria at the start of the new season
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:
🔵 Technology stays with us to help us in the new reality! We will need to be more careful, more rational and we will continue to do many things online. Not only because it is safer, but also because it is more convenient, it saves time and it is absolutely needed when distance is a factor.
🔵 We are witnessing an increase of foreign demand. Our foreign buyers are waiting for the constraints to be over to come over to choose their overseas homes in Bulgaria. Some of them are even paying deposits online and we have some flexible options for them.
🔵 Rural houses are a hit on the market both for local and foreign buyers. This is real news, because there has been no such demand since 2007. There is interest in all areas around the big cities in the country, as well as around the sea and mountain resorts. The Bulgarian village has a chance to be revived and we are sincerely pleased with this and are doing our best to offer you a great choice of attractive properties.
🔵 Holiday properties on the sea and in the mountain resorts also draw a lot a attention. They will give us the opportunity to relax in peace and on our own territory.
🔵 The interest in the big cities continues to be mainly in the new construction, which justified the trust and continued to develop during the state of emergency.
🔵 There is a growing interest in regulated plots for house construction, as people have realized that it is most comfortable when you have your own outdoor space.
Corona, ciao! Let the Summer begin!
List you property for sale or rent with us!
Read more news
Bulgaria plans to lift an obligatory 14-day quarantine from June 1 for travellers from most European Union countries, but not those states with the biggest coronavirus outbreaks, a senior health official said on Friday.
The quarantine will remain obligatory for travellers from Sweden, Belgium, Ireland, Portugal, Spain, Italy and Malta, the official said, as well as the UK, which is ...
'It is still not clear if there will be a cure for the coronavirus any time soon, but the pandemic itself has become a cure for the Bulgarian real estate market and has made everyone rethink their behaviour:
• Developers to be careful with pricing and the design of their new projects
• Banks to have higher requirements for their borrowers
• Vendors to thi...
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...