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BULGARIAN PROPERTIES Agents of July 2022
At the beginning of H2 of 2022, before we announce our Agents of the Month, it’s time to take a brief look at the Bulgarian real estate market.
🗓 In the past 6 months we have seen a strong demand and insufficient property supply, a delayed start of construction of new development projects, and predominant off-plan sales. Mortgage interest rates continued to fall and the volume of newly granted loans increased. 〽
The war in Ukraine and the inflation gave an additional stimulus for demand and investment in real estate and at the moment there is a noticeable shortage of offers for sale in all regions of Bulgaria. 📍
📈 This has led to accelerating price growth, which is currently around 15% as per data by BULGARIAN PROPERTIES and is the fastest increase since 2008.
The outlook for the coming months is for this growth rate to slow down, as there is already some hesitation and cooling of buyers' interest above certain price levels.
We also expect the market to reach a balance with the start of development projects that have been delayed due to rising material prices and with a better supply on the resale market as now is an excellent time to sell.
❗ If you own a property in Bulgaria that you wish to sell, list it with us here.
In June we witnessed the first signs of these trends, and we can say that it was one of the strongest months for the real estate market this year. This is also reconfirmed by the active participation of agents from all our offices around the country in our ranking Agent of the Month. 🥇
It’s now time to see them! 💯👇
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