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New Rise of Property Prices in Bulgaria
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In addition to the prices of basic food products and household bills, the prices of real estate in Bulgaria are also going up.
According to a study by Nova TV in Burgas, the wave of refugees from Ukraine is affecting the real estate market - Russians are selling and Ukrainians are buying or renting housing.
“There is an increased demand for rental accommodation. This is not only in Burgas but also in the region. The largest number of refugees is in Sunny Beach, Nessebar, Burgas, Kiten and Primorsko”, said the mayor of Burgas Dimitar Nikolov.
In the region of Varna, the National Real Estate Association reports up to 35% growth in transactions for the first quarter of 2022, compared to the same period last 2021.
“There is a change in the real estate market. In the Varna region there is a serious increase in transactions as well as an increase in residential property prices by 5% - 10%,” said Ivaylo Gradev, member of the board of the association.
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