Real Estatesin Bulgaria

Growth of transactions with holiday properties on the Bulgarian Black Sea coast in 2018.

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The growth of the real estate transactions on the Bulgarian Black sea coast

According to statistics of the National Real Estate Association in Bulgaria for the first time this year, after the last three or four, there is a serious increase in the number of deals with holiday properties. In the first half of 2018 compared to the same period last year, a positive trend can be noted in the growth of real estate transactions on the Black Sea coast with the participation of foreign buyers and buyers from Bulgaria. Stable is the interest in cities like Pomorie where the growth is about 20 percent, Nessebar and Sunny Beach with 16 percent growth, Balchik with 12 percent growth, Tsarevo with 9 percent growth. Only in the municipality of Byala there is a decrease of the deals with holiday properties. The most interesting are one-bedroom apartments with an area of ​​60-75 square meters and studios with an area of ​​about 30-35 square meters. It is also necessary to add to the statistics the rising share of profitable resale of holiday properties. They are of great interest to buyers and investors, the prices at which resale deals are made are often lower than the builder's prices.Increased demand for holiday properties may create a prerequisite for rising prices. In the city of Bourgas there is already a growth of about 5%.

Increased demand for real estate is also a prerequisite for increased demand for mortgage loans. Bulgaria is a candidate for entry into the euro area and bank control over real estate transactions is of particular importance for the stable and predictable market in the country. It is expected that in the near future interest rates on mortgage loans will catch up with those in the whole of Europe, which will be another positive addition to the growth of purchases of holiday properties on the Black Sea coast.