Current situation on the real estate market in Bulgaria is rather balanced. There are stable interest and demand, local and foreign investors have enough offers to cover this demand. The prices grow evenly, without rapid leaps, for 50% annually. This means that the real estate market is balanced and stays in balanced development phase.
Rapid price leaps, stagnation, the absence of new developments and lack of demand for real estate in Bulgaria are all in the past. Actually the demand has always been present, but it has significantly fluctuated, and customers most often didn’t find the desired property. But the situation has changed. There are plenty of property offers in any price bracket, any distance from the seaside, which of course influences on price. There are property objects of any metric area and design. Mostly the diversity of variants is typical for apartments and flat complexes. Private houses are also widely represented on a market, but the difference between demand on houses and apartments is explained by the fact that foreign customers don’t buy flats from secondary market, while old houses are in stable demand along with newly built.
The huge demand is for areas near the sea - the Bulgarian coastline stretches for 240 km. The reserve is large and there are a lot of attractive plots of different area located on places ideally suitable for high-rise building, as well as for building private houses and mansions with beautiful views on the sea and landscape.
Estates near big sea towns, such as Varna and Burgas, are also very popular. The areas near summer sea resorts, like Golden Sands, Albena, St. Constantine and Elena, Sunny Beach, are also in demand. As a rule most customers prefer areas with developed infrastructure.
There is one interesting fact: earlier the apartments on or near resorts were bought as seasonal rest, but now more and more owners use their Bulgarian property as a permanent residence. They travel around the country, up to the western mountainous territories, enjoy the natural resources and diversity of resorts. The growth of service quality in country apartment and resort complexes influences positively on customer’s choice. All the property items are under year-round maintenance and guarding; they are equipped with restaurants and stores, open and closed swimming pools, fitness clubs, bars, etc. the growth of building quality is also tangible, taking into account that Bulgaria has joined European Union and does its best to construct buildings not worse than other European countries. For instance, most of property items are equipped with autonomous or centralized heating and cooling systems of inner premises. Mass and constantly growing competition in the building sphere makes companies use modern high technologies and materials, engineer systems and facilities that provide high-quality comfort of residential buildings. Also they have to use the latest achievements of science and building techniques, as well as properly use the art of marketing and advertisement, not to lag behind competitors. And one of the main trump cards for such companies is offering such property in the same price bracket than buildings without special innovations in finishing.
As an example to such offers the property offers in Breeze, a popular residential district of Varna, can be shown. Both buildings are made with high-quality internal and external finishing, both are represented in the same price category, while each flat of one building is planned to be equipped with the newest autonomous heating and cooling systems manufactured by Chinese company Daikin. The second building will be heated by common inverter conditioners. This means that all the apartments will cost the same, while having the different level of technical equipment. There is a plenty of such examples.
If to study the most popular objects among foreign customers, the first place goes to complexes and houses for several families, located in prestige picturesque districts of Varna - the sea capital of the country. Most popular districts is Breeze, St. Constantine and Elena (the sea and spa resort in the city), Maritime Park, Galata. The apartments in these areas are good for both seasonal summer rest and living the whole year and business development. Also the big demand is for inexpensive complexes in small comfy resort towns like Kranevo, Byala, Nessebar with clean nature and temperate touristic activity.
The popularity of offers in summer resorts famous in Europe, like Albena, Golden Sands, St. Constantine and Elena, Sunny Beach is constantly growing. Along with this tendency the quality of service is significantly improved all the time, closing to service requirements of European standards.
