In the second quarter of 2024, Burgas became the leader in real estate sales in Bulgaria

In the second quarter of 2024, Burgas became the leader in the growth of real estate transactions in Bulgaria. In Burgas, new and resale market studio apartments and flats, houses, land plots, and townhouses are actively sold. Apart Estate presents an analysis of statistics from the Burgas Real Estate Registration Agency comparing it with other cities in Bulgaria. 

An analysis of data on real estate transactions in Bulgaria showed that the city of Burgas is in first place in terms of the number of sales. Thus, in the second quarter of 2024, 43.1% more transactions were registered in Burgas than in the same period in 2023. If we analyze the first half of the year, sales growth in 2024 compared to last year amounted to 27%. The increase of 5% is registered compared to the strong year of 2022, when apartments by the sea city were selling like hot cakes.

At the resorts of the Burgas region the situation is not so optimistic. Real estate was actively sold and purchased only in Nessebar (including Sunny Beach) and Tsarevo. In these cities, sales are 1.8% and 5.5% higher than in the second quarter of 2023. At the same time, the real estate market in Pomorie dropped significantly.

Sofia is in second place in terms of sales growth. During the second quarter of 2024, the number of transactions in the Bulgarian capital increased by 13% compared to the same period in 2023, returning to the figures of 2022. Total 9,641 properties were sold.

An increase in the number of transactions was also registered in Varna. In the sea capital, 4.2% more sales were registered in the second quarter compared to the same period last year.

The recovery, however, could not return the market to 2022 numbers.

The increase in real estate transactions in Burgas contributes to the constant rise in prices. So, today it is almost impossible to find an apartment in which a square meter costs less than 1,000 euros. According to some data, prices for apartments by the sea and in the center of Burgas are very close to prices in Sofia and average 1,244 euros/sq.m. They are more expensive than in Plovdiv, but slightly cheaper than in Varna.

Note that in the Burgas neighborhoods of Meden Rudnik and Dolno Ezerovo you can still buy a studio-, one-bedroom or two-bedroom apartment without renovation and furniture for 900-950 euros/sq. m.  Traditionally low real estate prices in the Slaveykov neighborhood have also crossed the 1,000 euro/sq. m. mark. Apartments in Sarafovo are also becoming more expensive. Costs per square meter here start from 1,050 euros. Premium class apartments with sea views reach prices of 1,800-2,000 euros/sq.m. 

If you are planning to buy property in Burgas, Pomorie, Sozopol, Sveti Vlas, Nessebar or Sunny Beach, contact the Apart Estate agency. We have been working in the Burgas real estate market for many years. We know everything about the city's neighborhoods and apartments in new buildings and on the resale market. You can contact us by phone, email, any messenger, or simply by filling out the form on the website. Your apartment is waiting for you.