Experts report that the demand for property significantly outstrips the supply in the seaside. There is also some discrepancy between the particular properties that are being offered and those that are most actively looked for.
This will be one of the main first challenges this year - to create realistic expectations for what they can achieve in today's market.
Transactions are increasing
In 2016 the number of transactions actually concluded in Varna is about 4-5% higher than in the previous 2015, say experts. A further increase of about 2% was observed in the first quarter of 2017.
Specialists point out that the active demand will be one of the factors for additional price growth in Varna this year. In 2016, growth is about 5-6%.
The most sought after by the buyers are the one and two bedroom apartments in the city. Nearly half of the deals concluded in the recent months are worth between 30,000 and 50,000 euros. Another 20% of the realized properties cost between 50 000 and 70 000 euros. Less than 10% are purchases of apartments worth more than 100 000 euros, according to the experts.
The one bedroom apartments in the city realized cost about 45 thousand - 50 thousand euros and the 3 bedroom apartments - within the amount of 70 thousand euros.
About 12-15% of deals are made for investment purposes.