Burgas, Bulgaria – Burgas is increasingly being recognized as a top city to live in Bulgaria, according to Alexander Bochev, chairman of the Board of Directors of the National Real Estate Association (NREA).
In a recent interview with the Bulgarian Telegraph Agency (BTA), Bochev highlighted the city’s remarkable performance in the real estate sector, outpacing even the country’s capital, Sofia, as well as other major cities like Varna and Plovdiv.
“Burgas has shown nearly a 40 percent growth in real estate transactions,” Bochev noted. “This city is becoming a preferred destination not just for permanent residence but also for second vacation homes.”
Recent figures from the Registration Agency support Bochev’s claims. The data reveals that real estate transactions in Burgas surged by an impressive 48.8 percent in the first quarter of the year compared to the previous quarter. In contrast, Sofia saw a 32 percent increase, Plovdiv 21.5 percent, and Varna 24.7 percent.
The upward trend continued into the second quarter, with Burgas leading the way with a 43 percent increase in transactions year-on-year. Sofia recorded an 11.9 percent increase, Varna 4.25 percent, while Plovdiv experienced a 2 percent decline.
The burgeoning real estate market in Burgas is reflective of broader trends in Bulgaria. While the national real estate market saw a modest annual increase of about 10 percent across the four major cities from the second quarter of 2023 to the same period in 2024, the total number of real estate transactions across the country showed minimal growth.
Only eight additional entries were recorded, amounting to a mere 0.01 percent increase. This data underscores a significant trend: the rise in real estate sales is predominantly concentrated in major cities, while smaller towns and non-regional centers have experienced a downturn, contributing to the minimal national growth.
Several factors contribute to Burgas’ growing popularity. Its coastal location offers residents scenic views and easy access to the Black Sea, making it an attractive option for those seeking both urban amenities and a seaside lifestyle.
Additionally, Burgas has seen significant infrastructure developments, including improved transport links and modernized public services, further enhancing its appeal.
Local real estate agents also report a rising trend in the purchase of second vacation homes in Burgas. “Many people are investing in holiday properties here, drawn by the city’s beautiful beaches and vibrant cultural scene,” said Ivanka Petrova, a real estate agent in Burgas. “The demand for vacation homes has significantly boosted the local real estate market.”
As Burgas continues to thrive, it sets a benchmark for other Bulgarian cities. The robust growth in its real estate sector highlights the city’s potential as a top destination for both living and investment.
The city’s dynamic market, coupled with its coastal charm and modern amenities, positions Burgas as a leading player in Bulgaria’s real estate landscape.
As the year progresses, real estate experts will be closely monitoring Burgas’ market trends, eager to see if the city can maintain its impressive growth and continue to attract both domestic and international buyers.
For now, Burgas stands out as Bulgaria’s real estate success story, offering a promising glimpse into the future of urban living in the country.