Plovdiv is the only large Bulgarian city in which a decrease in the number of completed transactions is reported in the second quarter of this year compared to the same period last year. reported by the National Statistical Institute.
For the considered period, Burgas is in first place in terms of the number of purchases and sales, with a growth of 43%. In Sofia and Varna, more transactions are also observed.
Offers have also decreased, brokers report. “If last year at the same time we had a certain volume of properties that were available for purchase, today they have decreased by about 10-15%,” says Yavor Peychev, executive director of ag. “Imoteka“.
The main driving force behind demand today is the country's future entry into the Eurozone and concerns that property prices will rise thereafter. Mortgage loan affordability and migration from smaller to larger cities are also among the main factors.
As for housing prices, they will remain at current levels and will continue to do so at least until demand subsides.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE