For housing in Bulgaria, double-digit price growth again

House price growth in Bulgaria is double-digit again: How does this affect tourists?

Sofia, October 6, 2023 - The real estate market in Bulgaria continues to show despite recent protracted changes, as evidenced by recent reports. House prices in this picturesque Eastern European country have returned to double-digit annual growth, reaching an impressive 10.7% after slowing to 9.5% at the beginning of the year.

Why is it important for tourists?
The rise in housing prices in Bulgaria has a direct impact on tourists and travelers who come to this country, and that's why:

Varna +20.3%
One of the most beautiful and attractive seaside resorts in Bulgaria, Varna, has faced an increase in real estate prices at a surprisingly high level of 20.3%. This city is famous for its extensive beaches and cultural attractions. For tourists, this means that renting a house on the seashore can become more expensive.

Plovdiv +17.6%
Another popular city in Bulgaria, Plovdiv, also notes an impressive increase in housing prices. This ancient city is the European capital of culture, and tourists often visit it for rich cultural experiences. However, with rising housing prices, the cost of living here will also increase.

Sofia +8,8%
The capital of Bulgaria, Sofia, is the cultural and economic center of the country. Tourists visiting Sofia may face higher prices for hotels and rental housing. However, the city still remains an attractive place for travelers.

Falling volume of transactions
It should be noted that despite the increase in prices, the volume of transactions in the real estate market in Bulgaria decreased by 15.5% compared to the same period last year. This may lead to the fact that some investors will prefer to rent real estate instead of buying, which may affect the availability of housing for tourists.

The rise in housing prices in Bulgaria creates an interesting dynamic environment in the real estate market. For tourists, this means that they may face higher prices for rental housing and hotels, especially in popular tourist cities. However, the cultural richness and natural beauty of Bulgaria remain immutable, and the country remains an attractive place to visit.