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The Beach Property Market in 2018 - a report by BULGARIAN PROPERTIES
The holiday property markets in the Bulgarian beach resorts have gone through major changes over the past few years.
At present, the effects of the latest boom and downturn have already been overcome, and this segment of the property market has also entered into a positive development phase, albeit a lot under the dynamics of the big cities.
The positive thing this year is that for the first time since the withdrawal of the Russian buyers in 2014, we are witnessing a stop in the decline of the property prices. This is due to the increased interest, which has led to a sales growth. This growth is highest in the Sunny Beach area, where the property sales in Q3 rose with almost 30% compared to the same period of last year.
Without a noticeable change remains the market to the South of Burgas, where the properties are more expensive and the sales volumes are much smaller than those in Sunny Beach mega-resort. On the Northern Black Sea coast there is interest to Kavarna and Byala, but in general, the main demand is concentrated in the city of Varna.
Since mid-2017, Bulgarians have turned into the main group of buyers in the seaside resorts. At present, they account for about 50% of the buyers in the Sunny Beach area. The rest are buyers from a variety of nationalities, among which there is no dominant group. To the North, around Varna and to the South of Burgas the buyers are almost 100% Bulgarian.
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