Real Estatesin Bulgaria

Bulgaria real estate prices Boom

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Bulgaria real estate prices Boom

At the end of 2021, the growth rate of the real estate price index reached 9.4% (against 8.7% in the previous quarter), which was accompanied by an increase in the volume of concluded purchase and sale transactions (by 30.2% per year).

Prices continue to rise in the first six largest regional cities, with the most noticeable rise in prices observed in Varna - 10.8%. Price growth is observed both for existing housing (10.0%) and for new construction (8.4%).

One of the factors behind this increase in prices was the increase in the cost of building new homes: the rise in the price of building materials and the increase in wages.

According to the results of surveys and questionnaires, in April 2022, 52% of managers in the construction industry predicted an increase in real estate prices in the next quarter of 2022.