Photo: Rubber Dragon
The site’s research shows that 59,475 transactions were completed in the third quarter of 2013, a rise of 1.42 per cent compared to the same period in 2012. The year-on-year growth may not be strong overall, but marks a significant recovery in the seaside area of Burgas – and a growing demand for property in the bigger regional cities.
Indeed, the large regional towns accounted for 53 per cent of Bulgarian properties sold in the third quarter, a rise of 5.35 per cent annually. Sofia, meanwhile, saw sales jump 7.74 per cent as buyers return to the capital city.
Demand for Burgas, though, is booming: sales of property in the Black Sea resort soared 23.43 per cent in the peak summer season compared to 2012.
Polina Stoykova MRICS, Chief Operations Manager and Head of Research for Bulgarian Properties, attributed the leap of almost one-quarter to “both the recovery of the property market in the seaside regions, and the continuing increase of foreign tourists mainly from Russia and Ukraine”.
The Bulgarian sea capital of Varna also enjoyed an above-average rise in sales of 10.77 per cent year-on-year in the third quarter of 2013.
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