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
As autumn is in full swing, the real estate market in Bulgaria remains stable and active in anticipation of the eurozone entry.
Property prices continue to rise, and interest in new-build projects remains strong, especially for modern complexes with guaranteed quality. The year also appears to be one of the strongest for a rise in demand for rural houses which are offered in quite ...
The real estate market in Bulgaria's major cities is calmer than expected, just months before Bulgaria joins the eurozone. The euphoria and large sales volume remained in the first half of the year, until the decision to accept the country into the eurozone. This was commented on by Polina Stoykova MRICS, Managing Director and co-owner of the real estate agency Bulgarian Properties, during the Rea...
Twenty years ago, Bulgaria became one of the most attractive destinations for British buyers searching for affordable holiday homes and retirement havens. Now, two decades later, the trend is back – and stronger than ever.
One of the many inspiring stories we’ve witnessed recently is that of Yossef, a buyer from the UK who came to explore Bulgaria with the hope of find...
🏆 Your Trusted Partners in the Peak of the Real Estate Season!
As autumn settles in, the property market in Bulgaria is showing no signs of slowing down!
Between national holidays, the start of the school year, and the buzz of city life, we at BULGARIAN PROPERTIES have been working at full speed to bring buyers and sellers together in successful transactions...
