The real estate market in 2024 will be similar to that of last year, at least in terms of the number of realized purchases and sales, experts predict. The population migration from smaller to larger famines continues and this clearly affects the housing market – especially in the capital and our seaside cities Burgas and Varna.
In the first three quarters of the current year, almost the same number of transactions were concluded as in the same period of 2023. If this is repeated in the last three months of the year, we will end 2024 with about 215,000 real estate transactions.
The lack of change in the rate of the number of sales transactions also affects the property prices – the growth on an annual basis in 2024 compared to 2023 will be around 10% or slightly above 10%, analysts predict.
„The market is currently on hold. The frozen market said major players were confused by the uncertainty surrounding the country's entry into the eurozone. Most likely, there will be an increase in prices after Bulgaria's entry into the eurozone, and if this does not happen, it is more likely that the market will remain at the same levels,“, predicts the chairman of NSNI, Alexander Bochev.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE