The prices of vacation properties in Bulgaria have risen by more than 20%, according to an analysis of one of the largest real estate companies in Bulgaria.

A significant increase in prices has been observed over the past year in the resorts near Varna, broker Yulia Hvrchilkova told Radio Varna. 

Among the leaders in this indicator are the resorts "St. St. Constantine and Elena", "Sunny Day" and "Golden Sands".

It is these three complexes that attract the most serious interest from buyers.

"

Where there is the greatest interest, there is also the greatest price movement

," explained Hvrchilkova.

Vacation properties in some resorts rose in price by over 25% last year

At the moment, the average price of a two-room apartment in the resort "St. St. Constantine and Elena" is about 82 thousand euros, and a three-room apartment costs 150 thousand euros, the broker also revealed.

In "Sunny Day" the prices are double.

Vacation properties by the sea are attracting more foreign buyers, including Ukrainians and Russians.

Recently, there is a tendency for more and more Bulgarians living abroad to buy vacation properties in order to have a place to rest in the summer.

However, high prices do not stop buyers.

And that has an explanation. 

"We don't value the sea, which is close to us every day. This is not the case with foreigners and our compatriots from the interior of the country, and they see the benefits of living by the sea. One of the things that attracts them is the good arrangement of our seaside resorts. That is why many of the buyers remain living in the vacation properties all year round," Hvrchilkova explained.

Among the leading criteria for investors when buying a vacation property are good infrastructure, good layout of the buildings, as well as the presence of additional amenities such as a pool and garden, but the maintenance fee is low.

According to Hvrchilkova, the latter is difficult to achieve.

Both Bulgarians and foreigners invest most often in studios and two-room apartments in the resorts.

In addition to vacation properties, the demand for apartments and houses within the city and in the villa areas remains strong.

Despite the high demand, there are fewer deals.

Yuliya Hvrchilkova explained this with the fact that buyers are currently taking a slower decision to buy a property and are waiting because of the information about a possible drop in prices.

On the other hand, at this stage, sellers are more likely to back out than to lower the price.

She does not expect any more serious upheavals in the real estate market this year, but according to her, this also depends on the political situation in the country.

The rental market also remains stable, added the expert.

There is already an increased interest on the part of companies in membership in the National Association "Real Estate".

Since the beginning of the year, a total of 11 companies have applied for membership, which is a record.

According to the broker, this is due to the better awareness of customers and, accordingly, the greater demands they already have on brokers and companies.

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