Burgas is increasingly being recognized as a top city to live in Bulgaria, according to Alexander Bochev, chairman of the Board of Directors of the National Real Estate Association (NREA).
Sofia, Varna and Plovdiv in real estate activity, showing nearly a 40% growth in transactions and a rising trend in the purchase of second vacation homes. The most recent figures from the Registration Agency reveal a significant spike in real estate transactions in Burgas. Compared to the first quarter of the year, transactions in Burgas surged by nearly 49% (48.8%), while Sofia saw a 32% increase, Plovdiv 21.5% and Varna 24.7%. When comparing the second quarter of this year with the same period last year, Burgas still leads with a 43% increase, while Sofia grew by 11.9%, Varna by 4.25% and Plovdiv experienced a 2% decline.
Overall, the real estate market in Bulgaria saw a modest annual increase of about 10% across the four major cities from the second quarter of 2023 to the same period in 2024. However, the total number of real estate transactions across the country showed minimal growth, with only eight additional entries recorded, amounting to a mere 0.01% increase. This highlights a significant trend where the rise in real estate sales is predominantly concentrated in major cities, while smaller towns and non-regional centers have experienced a downturn, contributing to the minimal national growth. (Novinite)