Property price analysis in Bulgaria in 2024
01.03.2024
Compared to other European countries, Bulgaria is small but very interesting. Bulgaria is a popular destination among tourists because of its picturesque landscapes, fascinating architecture, gentle seas and snow-capped peaks. An inexhaustible stream of tourists not only from Europe but also from other countries comes here to rest.
In addition to tourists, the country is attractive to investors. The Bulgarian government is very interested in attracting foreign investment funds. Therefore, here you do not need to be a citizen of the country to easily buy an apartment and receive additional bonuses along with it. For example, a multi-visa, on which you can stay in Israel for three months within six months. You can live here yourself or rent out the property, thus providing yourself with passive income.
Since investments are made to make money, it would be worthwhile to invest in a property that steadily increases in value and maintains its position in the market.
Property prices in Bulgaria 2024
Based on the experience of the last year it can be said that the changes in property prices in Bulgaria will be on the rise. The country has experienced both increases and decreases in prices, but in recent years there has been a constant and rapid increase. In the middle of 2023, the demand in the market waned a little, but this did not trigger a decrease in value.
Meanwhile, experts predict a sharp jump in apartment prices in Bulgaria. The year 2024 promises to be interesting, as the government has taken several steps to fully join the Eurozone. They promise that this will trigger an increase in residential property prices in Bulgaria and interest from EU citizens. Because without currency exchange, it will be convenient for them to buy.
Also, the increase in prices was due to the increase in construction costs. The standards, the minimum wage, and accordingly, the cost of building materials have increased. Of course, the increase cannot only affect new buildings and the second-hand property market will also follow.
Fixed prices in Bulgaria: Sunny Beach
Sunny Beach is not only one of the most popular resorts on the beach but also the most colorful in terms of the public. Here you can find housing for every pocket and taste: from cheap and unpretentious to luxury apartments. For example: studio apartments will cost from twenty-eight thousand euros, apartments - from thirty-seven, and houses - from seventy-five thousand euros.
On average, apartment prices in Bulgaria were 908 euro/m2 in January 2021 and 1439 euro/m2 in August 2024
Apartment prices in Bulgaria: Burgas
The fourth most populous and culturally developed port city is Burgas. It is impossible not to fall in love with this romantic and pleasant city. A wide sandy beach, a modern and well-kept park, restaurants and hotels. Burgas attracts tourists, which means it is interesting for investment. In the secondary market, prices here range from 1000 to 1500 euros per square meter. In new buildings - up to 2500 per square meter. In general, there is a lot to choose from.
Dira Bulgarit was established with the aim of helping the Israeli investor find the most worthwhile properties throughout Bulgaria. On our site you will find hundreds of properties - from studio apartments in resorts to luxury apartments of three and four rooms in modern projects built to the highest standards. Our team of experts is waiting for you, contact us today and we will answer any question you might have so that you can find the most profitable real estate investments for you in Bulgaria.
