This year prices of properties for sale in Bulgaria are expected to rise by 6-10%

The upturn in the property market will continue in 2017 as there will be a slight rise in prices in major cities between 5% and 10%, experts in the industry forecast. We are optimistic about the market in the big regional cities of the country, but do not expect serious increases in property prices in 2017, perhaps within 6-8%, not more than 10%. But every property is the bearer of some value that is formed by its qualities. It can not be said that the average price jumps because each property is strictly individual.
In 2017, we expect the housing market to be particularly active in the segment of housing satisfaction. We hope to have more offers in order for the market to be adequately powered. However, according to experts, no special price growth is expected, as there is always a buyer in the deal who is reasonable enough to know what he wants. The fact that there will be some imbalance between supply and demand does not mean that prices will rise. Buyers are willing to give more money if they find some additional quality in the property, but they do not give money at all costs.
The basis for the optimistic attitudes for 2017 gives good data on the property market in the past 2016. There is no aggregated data on deals in the fourth quarter of 2016, but large regional cities reported a growth in property purchases in the third quarter. Expectations are that the number of transactions will continue to grow in the new year, but not at such high rates simply because the market has a certain amount of property.
We are expecting the market to remain firmly active in 2017. For the time being, we have stability in banking policy, which ensures that our deals are calm. There will be a smooth increase in prices - in the order of 5-10%, depending on the type of property and in which part of Bulgaria it is located. There are small rural properties which prices are not expected to be rising. What we have as a trend since autumn 2016 is expected to remain in the new year as well - a permanently stable market with a slight increase in prices in major cities and new construction. Buyers are getting more and more demanding, they know what they are looking for and are willing to give more money, but only for quality properties that match their expectations. In Sofia, the eastern areas around Dianabad and Studentski grad will remain priority, which are very good as an investment, attractive is the central part of the capital as well as the southern regions. On the other hand, property prices in the neighborhoods, where there is already a metro, are also rising slightly. It is noticed that families are looking for larger homes. There are people who are no longer looking only for investment purposes, but for the purpose of purchasing for personal needs - large, comfortable apartments with 2-3 bedrooms, in the order of 100-130 square meters.

Experts expect an increase of the number of deals.
In 2017, the rise in the property market in Sofia and other major cities will continue and will be driven by local demand as buyers will be better informed about current market trends and price levels. The competition that is being created between the new buildings (newly built and already realized) and between the secondary market sites will lead to a more colorful picture of the supply, which will increasingly satisfy the demand. This in turn will lead to a further increase in sales volume. We expect sales growth to be more significant than growth in property prices where the pace will slow down with market balancing and will remain within 10% in 2017. According to specialists, in 2017 we will have more prepared buyers, better supply and affordable bank financing. All of this provides prerequisites for maintaining the upward trend in the market.

Bulgarians move the sea market
The Bulgarians will remain the most active buyers in the holiday property market in 2017. This will help to lower prices on the part of sellers. At those prices, which are already visible in the holiday property market, from 300-400 Euros, why should the Bulgarians not consider buying such a home? When prices are reasonable and interesting.
Naturally, supply of holiday properties is times higher than the demand, and the market in this segment will not be as dynamic as residential property.
Russian tourists have enough problems in terms of inflation and sanctions imposed on them by the EU, so they will not be the main driver of the holiday property market this year. It will be driven by other foreign tourists and, to a certain extent, by Bulgarians.