Foreign Interest Surges in Bulgarian Property Market, Especially in Resorts

Business » PROPERTIES | May 22, 2024, Wednesday // 17:01
Bulgaria: Foreign Interest Surges in Bulgarian Property Market, Especially in Resorts Photo: Stella Ivanova

Real estate agents have reported a surge in property purchases by foreigners in Bulgaria's resorts and major cities like Sofia, Plovdiv, Varna, and Burgas. While resorts like Bansko and Sunny Beach have seen the most transactions by foreigners, Bulgarians remain the primary buyers across all mountain and seaside destinations.

In urban areas, foreign buyers are primarily interested in high-end apartments priced above 200,000 euros, whereas in resorts, they tend to opt for one- and two-bedroom apartments ranging from 30,000 to 70,000 euros. Some transactions have involved Russian buyers.

Property prices in Bulgarian resorts have hit their highest levels in the past decade or more. Borovets stands out among mountain resorts, with average prices reaching 850 euros per square meter. Meanwhile, Sozopol and other resorts south of Burgas command the highest prices among seaside destinations. Prices in Sunny Beach and Bansko are comparable, while properties in Pamporovo and certain resorts along the Northern Black Sea coast are more affordable.

North of Varna, prices vary widely due to differences in quality and scale among complexes. Properties in this area range from 500 to 600 euros per square meter to as high as 800 to 1,000 euros per square meter.

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Tags: properties, resorts, Bulgaria, foreigners

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