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Property prices in Bulgaria in 2021

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Bulgaria real estate prices in 2021

We offer you a brief and informative review and analysis of the real estate market in 2020, as well as a forecast for the development and changes in the real estate market in 2021, taking into account the impact of the COVID-19 pandemic.

The past 2020 was a difficult year and even experienced market players did not dare to make more or less accurate forecasts. New factors arising from the pandemic: border closure, cancellation of flights, requirement to document a negative COVID test, restriction of visits to catering and entertainment establishments, etc., actively intervened in market management of real estate not only in Bulgaria but in the whole European Union .... The market looked out of control. Concerns and fears have surfaced that the market could freeze for a while or simply collapse. But practically nothing like this happened and until the summer of 2020 the transactions for sale and purchase of real estate located in complexes and coastal resorts of Bulgaria on the Black Sea coast were carried out in volumes approximately equal to 2019, and real estate sales urban properties even increased their share compared to 2019. Resort real estate prices remained virtually unchanged, while urban real estate prices continued their steady natural growth. The factors that influenced the stabilization of the market were: the stable economy of Bulgaria, timely measures to prevent and prevent the spread of the disease during the summer tourist season 2020, the unexpected activity of the Bulgarian buyer and the great interest of Bulgarians not only in urban real estate but and to real estate in the resorts for investment and a safer summer vacation.

In general, the real estate market in Bulgaria proved its resilience in the difficult 2020 and the pessimistic forecasts did not come true. Real estate in Bulgaria has become an attractive option for investment savings in anticipation of rising prices after Bulgaria's full accession to the Eurozone.

In 2021, no drastic changes in the picture and the trends created in 2020 are expected, as the situation with the spread of COVID-19 stabilizes. Stably increased investment interest in real estate is expected from both local buyers and foreigners.