Call
Send Email
Messenger
WhatsApp
House prices in the coastal city of Varna are rising - what are the reasons?
Property prices in the coastal city Varna and the region have increased by nearly 16% in the second quarter of 2024 compared to the same period last year. This rise places Varna among the most expensive cities for real estate in Bulgaria, after Sofia.
The price increase is driven by several factors, including a 5% rise in the number of completed transactions compared to the previous year. Experts attribute the price hike to the upcoming entry of Bulgaria into the Eurozone, as well as the reduced supply of secondary market properties, with many owners holding back their offers in anticipation of further price increases.
Among the most sought-after properties are apartments with sea views, which are often sold even before construction is completed, despite being more expensive. Buyers typically prioritize factors such as location, infrastructure, and the completion status of the building, as well as the interior furnishings and the view. Fully furnished and completed apartments are considered the most liquid, as new owners can move in immediately.
The average price per square meter for an apartment in the centre of Varna is around 2,060 euros, with more affordable options available, averaging around 1,850 euros for two-, three-, and four-room apartments.
Despite expectations of a slowdown in price increases, experts do not foresee a significant drop in property prices in the coming months. At the same time, there has been a growing trend of transactions financed by bank loans, with the percentage of such deals now exceeding 65% of all transactions.
Although the Bulgarian National Bank has tightened regulations on mortgage lending, experts expect a slight decline in the number of transactions financed by bank loans next year.
View our properties in Varna
Read more news
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.
