Growth of Real Estate prices in Bulgaria

There is a growth of the Real Estate prices in Bulgaria by about 35% in 12 years after the country's accession to the EU, this is evidenced by the data of the European statistical service Eurostat.
During all this time, prices moved upward. Due to the international financial crisis, a decline in prices was recorded in 2009-2013. But over the past five years, everything has changed and real estate has grown significantly in price. Only in the period from 2014 to 2018, housing prices in the country rose by more than 29%, Eurostat data show.
Among the main reasons for the rise in price are income growth, a decline in interest on loans, the desire of people to live in new, large apartments, as well as the migration of the population to large cities where higher salaries are paid.
It turns out that the movement of apartment prices in Bulgaria meets the trends of the real estate market throughout the EU. Over the past 12 years, recorded real estate prices in the entire EU by 21.7%. Bulgaria ranks 18th in the world in terms of rising property prices, according to data from a consultancy company in the real estate market. Housing prices in the country rose by 5.5% in this year compared to the same period last year.