The Burgas region became the Bulgarian leader in a number of new living buildings finished in the second quarter of 2023

The Burgas region became the Bulgarian leader in a number of new living buildings finished in the second quarter of 2023. According to the statistics, 1,352 residential construction projects have officially been put into operation in Burgas, Pomorie, Nessebar, Sozopol, Sunny Beach and other cities and resorts of the region, i.e. exactly where Apart Estate offers the best properties.

In total, 5,198 flats, studio apartments, townhouses and cottages were built in Bulgaria in April-June 2023. The first place belongs to the Burgas region with 1,352 residential objects. In the second place, there is the city of Sofia with 1,168 property units completed. In Varna, the number of new apartments is 718, and with this indicator the sea capital ranks third.

The most popular real estate in Bulgaria put into operation is two-bedroom apartments – the total number is 1,712. This is almost 33% of all finished apartments. In Sofia this is the most wanted type of real estate (348 apartments were commissioned), while in Varna this type of properties takes the second place with 206 units. In the third place is the Burgas region – a total of 347 two-bedroom apartments have been commissioned here. This is the type of property that buyers choose for permanent residence. The greatest interest comes from families with children and young couples.

The second place in the ranking of finished new residential buildings in Bulgaria is occupied by one-bedroom apartments. This is the most popular type of real estate in the Varna region – 342 objects were built here. In the Burgas region and Sofia, 449 and 348 one-bedroom apartments were put into operation, respectively. It is interesting that in the Vidin, Gabrovo, Razgrad, Silistra and Yambol regions, not a single apartment of this type was completed in the second quarter of 2023. One-bedroom apartments are an ideal option for permanent residence of small families and retirees. They are often bought for rental.

Studio apartments rank third among the new buildings completed in the second quarter. In total, 653 new flats of this type appeared in Bulgaria in April-June 2023, with more than half (472) of them built in the Burgas region. In the Varna region, 61 new studio apartments became ready, and in the city of Sofia – 38. This type of property is most often purchased for rental and for living in summer.  Studio apartments have a small area; they are cozy and ideal for vacations and holidays. Pensioners who decide to move closer to the sea often choose them for permanent residence.

Three-bedroom apartments are another popular property type – the number of these flats put into operation is almost the same as studios. Of the 651 properties built in Bulgaria, 228 three-bedroom apartments appeared in Sofia, 61 in Varna and 53 in Burgas.

Apart Estate experts note that there is a steady increase in the construction of spacious apartments in Bulgaria, especially in large cities. More and more people are interested in flats with five or more rooms. A total of 520 properties of this type have been commissioned across the country. Sofia can boast of 112 completed three-bedroom apartments, townhouses and houses and 59 residential properties with more than 4 bedrooms. In Varna these types of real estate are 26 and 22 and in Burgas – 17 and 14, respectively. When analyzing large real estate suitable for permanent residence, Plovdiv breaks the usual statistics. In the second quarter of 2023, 39 and 38 apartments and houses of this type respectively were built in this city. This city is second in the ranking of large real estate in Bulgaria.

As you can see from the presented analysis, Burgas remains a leader not only in the total number of residential properties constructed, but also in the commissioning of small apartments. The average area of completed apartments is 53 sq. м. In Sofia this figure is 157 sq. m. Small apartments are also popular in Varna.

Note that in the second quarter of 2023, despite pessimistic forecasts, there is an increase in real estate prices. Thus, in Sofia, a square meter of residential properties cost more than 2,000 euros. Last year the cost was about 1,750 euros.

In Burgas, you can still find an apartment for less than 1,500 euros/sq. m, but this will be real estate in remote areas or neighborhoods with inconvenient infrastructure.

If you are planning to buy an apartment from a developer in Burgas, Nessebar, Pomorie, Ravda, or Sunny Beach, contact the Apart Estate real estate agency. In our regularly updated catalog, you can choose cozy small studios apartments, comfortable one-bedroom apartments and spacious properties with three or more bedrooms. We will offer budget and premium-class real estate with sea views, apartments in residential resort complexes and ordinary living buildings.