Property Market Survey Ranks Most Popular Regions In Bulgaria
The coastal resort Sozopol is the Bulgarian region with highest demand for real estate.
24 Chassa published a survey by imot.bg ranking Bulgarian regions based on the property demand. Sozopol offers over 400 plots for hotel construction and prices vary from 20 to 150 euro a sq m.
The seaside resorts of Tsarevo and Ahtopol are also among the high demand regions. Prices are a bit lower, reaching only 120 euro a sq m.
One problem, common for all coastal regions, is the low supply of quality plots since the villages are rather small and already over-populated during the summer season.
As a result, demand for property in Sunny Beach resort has fallen. The resort had now turned into an urban area and even the most luxurious properties failed to attract customers' interest, 24 Chassa reported. The rapid decrease of demand in Sunny Beach has led to a fall in real estate prices.
Property prices depend on various factors including proximity to the sea shore. Accessibility to transport and communication routes was also of great importance, 24 Chassa said.