The real estate market in Bulgaria in 2020. Trends and forecast
At the end of the outgoing year there is a tradition for real estate agents to make forecasts for the next 12 months.
The reliable information on changes in prices and demand in 2020 will allow buyers to better plan purchase of an apartment in Bulgaria. The sellers can choose favorable conditions for sale.
The year promises to be special – the demand for property in the Bulgarian downhill ski resorts and the Black sea coast grows more and more. The quality of real estate and the provided services corresponds to the European level, while the prices are much lower.
In which cities of Bulgaria property will be most popular in 2020?
The main demand for property in Bulgaria in 2020 will be concentrated in the biggest cities, among which are Sophia, Varna, Plovdiv and Burgas. This is due to the active migration of the local citizens, immigration of foreigners. The cities offer comfortable living conditions. New residential buildings are being erected. Infrastructure is being developed.
Resort complexes and cities are also traditionally popular. Those are Sveti Vlas, Sunny Beach, Elenite, Golden Sands. New complexes, crystal clear sea with beaches awarded with the prestigious Blue Flag, well-developed infrastructure provide wonderful opportunities for year-round living, vacations, rental property and business development.
Property in downhill ski resorts in Bulgaria is a relatively new direction in the Bulgarian real estate market. The services provided in these resorts are at the same level of quality as services in Italy, Germany, France. At the same time the price of property and service is much lower.
Property in Bulgaria is an excellent opportunity to live in Europe, use high-quality services and develop business.
Citizens of Bulgaria living both in this country and abroad will remain the main buyers of property in Bulgaria in 2020. More and more frequently, Bulgarians living in other countries buy apartments or houses for renting or retirement.
Among the people who actively buy apartments in Bulgaria in 2020 will be the Russians. One should note that over the past few years the demand from the citizens of Russia, Ukraine and Kazakhstan has slightly reduced. This is due to the changing migration policy of Bulgaria and a decrease in the purchasing power of the citizens of Russia and other CIS countries.
The perfect combination of stable economics, good leisure infrastructure attracts more and more citizens of European countries, the USA, Canada and Israel. They are interested in buying property on the coast, famous downhill ski resorts and historical centers.
Why the property in Bulgaria in 2020 will be attractive to the foreigners?
Independence, comfort and the ability to choose an architectural style and interior per your own wish and taste– this is what will attract people to buy property in Bulgaria in 2020. You can consider one bedroom, two bedroom apartments, studios with sea views. Or maybe you will think of your own cottage or chalet.
Buying cottages, townhouses and chalets in sea and downhill ski resorts is a new and exciting direction in the market of real estate in Bulgaria. Two, three-story cottages with their own piece of land has become the ideal property for many people. In such cottages there are spacious halls with a gorgeous view at the beach, the snow-capped peaks of the mountains. The price of such property in Bulgaria is much less than in Spain, Italy or Greece.
Prices for the property in Bulgaria in 2020
Prices for apartments and houses in Bulgaria in 2020 will remain stable. This means there is a possibility to choose and buy high quality property cheaper than in many other European countries.
The price of apartments in Sofia is expected to be at 1000-1200 Euro/sq.m. The price of luxury apartments in the center of the capital will increase to 1500 Euro/sq.m.
Property at downhill and ski resorts is cheaper than in the capital. The lowest price, 350 Euro/sq. m., can be found in the Sunny Beach. Still, the average price in this area will be 450-600 Euro/sq.m. One square meter of the real estate in other resorts will vary from 550 to 750 Euro. Luxury apartments, cottages with their own land, designer’s furniture will cost 1000-1200 Euro/sq.m. or even more.