The real estate market in small towns in Bulgaria is booming

Bulgaria is experiencing a boom in real estate transactions in small towns

Sofia, November 16, 2022

According to the Registration Agency of Bulgaria, in the third quarter of 2022 there is an active growth in real estate sales in small towns of the country.

With the exception of the six largest cities - Sofia, Varna, Plovdiv, Burgas, Staraya Zagora and Ruse, the total number of real estate transactions in the remaining settlements increased by 6.56% compared to the previous quarter and amounted to 35,992 transactions.

Experts explain this growth by an increase in demand for suburban real estate against the background of the COVID-19 pandemic. Many citizens prefer to move from large cities to less populated areas where they can work remotely. In addition, real estate investments are seen as a reliable way to save money in the face of inflation.

The biggest growth was demonstrated by the cities of Smolyan, Krumovgrad, Momchilgrad, Peshtera and Ardino. Market activation is also observed in Kardzhali, Isperikha, Tervel and other small towns. Experts predict the continuation of positive trends in this segment of the real estate market.

Particularly noticeable activation is observed in such cities as Kardzhali (an increase of 49.4%), Isperikh (+44%), Tervel (+34%), Dimitrovgrad (+34%), Berkovitsa (+25%), Targovishte (+24%), Nova Zagora (+20.8%) and Great Preslav (+20.7%).

According to real estate market experts, the growth in demand is influenced by factors such as the desire to move from large cities to quieter areas due to the spread of remote work, as well as the desire to invest in real estate in conditions of inflation. Positive dynamics in this segment is expected to continue.