Real estate prices in Bulgaria in 2022

We offer you a brief overview of the situation on the real estate market in Bulgaria in 2021 and an up-to-date forecast of the market for 2022.

In 2021 the real estate market in Bulgaria developed both according to the forecasts made and outside them. From the very beginning of 2021, it became clear that the market had finally calmed down and stabilized after the shocks of the COVID 19 pandemic and the fear of a crisis. The trend of unforeseen development has also finally taken shape.

The combination of several factors continued to have a positive effect on increasing interest in the demand and purchase of all types of real estate. One of the factors came from the banking sector. Interest rates on deposits reduced to zero made savings in banks obsolete, which in turn turned real estate into a profitable and profitable investment with guaranteed preservation of the amount invested in the property, and redirected most of the deposits to purchase mostly urban real estate.

Another unexpected catalyst for purchases was the COVID 19 pandemic itself. The same factor influenced the increase in purchases by foreign buyers.

A serious reason for the increase in the volume of home sales is the still low price of real estate in Bulgaria. Bulgaria is still the EU country with the lowest prices for holiday and urban housing. This unique factor continues to be a serious catalyst for the increased investment interest in buying real estate of any type in the country from foreign and domestic buyers.

Experience from European markets shows that at this stage before the final entry of Bulgaria into the Eurozone and the change of currency in the Euro investment in real estate will have guaranteed growth with high security. In summary, even without all the reports from the end of 2021 related to the purchase and sale of real estate have been published, increased demand and high growth of real estate transactions can be reported, for the first time there is a specific shortage of proposals that is, the demand exceeds the supply by a percentage!

Especially for your reflection and analysis, we have prepared specific dry statistics on the largest cities and regional centers in Bulgaria. By the end of September 2021, 5,987 real estate transactions were registered in the city of Burgas, which is an increase of 43% on average. The town of Nessebar, which includes Saint Vlas, Sunny Beach, Ravda and other resorts, by the end of September 2021, 4,829 deals were made, which is an increase of 111% on average. By the end of September 2021, the city of Varna and the region made 10,772 real estate transactions, which is an increase of 22% on average. By the end of September 2021, 13,200 real estate transactions were made in the city of Plovdiv, which is an increase of 39% on average. By the end of September 2021, 25,151 real estate transactions were concluded in the city of Sofia, which is an increase of 35% on average.

We wish everyone a successful and profitable purchase of property in Bulgaria in the New Year 2022!