Burgas is increasingly being recognized as a top city to live in Bulgaria, according to Alexander Bochev, chairman of the Board of Directors of the National Real Estate Association (NREA), who shared insights in an interview with BTA.

Bochev reported that Burgas outpaces Sofia, Varna, and Plovdiv in real estate activity, showing nearly a 40 percent growth in transactions and a rising trend in the purchase of second vacation homes. The most recent figures from the Registration Agency reveal a significant spike in real estate transactions in Burgas. Compared to the first quarter of the year, transactions in Burgas surged by nearly 49 percent (48.8 percent), while Sofia saw a 32 percent increase, Plovdiv 21.5 percent, and Varna 24.7 percent. When comparing the second quarter of this year with the same period last year, Burgas still leads with a 43 percent increase, while Sofia grew by 11.9 percent, Varna by 4.25 percent, and Plovdiv experienced a 2 percent decline.

Overall, the real estate market in Bulgaria has seen a modest annual increase of about 10 percent across the four major cities from the second quarter of 2023 to the same period in 2024. However, the total number of real estate transactions across the country showed minimal growth, with only eight additional entries recorded, amounting to a mere 0.01 percent increase. This highlights a significant trend where the rise in real estate sales is predominantly concentrated in major cities, while smaller towns and non-regional centers have experienced a downturn, contributing to the minimal national growth.

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