Dream Home by the Sea: What’s Happening in the Bulgarian Seaside Property Market?

What is the state of the property market by the sea in 2024, and how can we navigate it?

Imagine standing on the terrace of a seaside apartment. Before you stretch the endless blue, and the breeze carries the scent of salt and freshness. The dream of living by the sea seems increasingly achievable for many, especially in recent years, as the market for vacation properties on the Bulgarian Black Sea Coast has been growing and offering more opportunities. But what does the situation on the market look like in 2024, and how can we navigate it?

The past year and trends in the seaside property market.

In 2024, the property market on the Black Sea Coast continued to develop dynamically. Over the past year, the prices for vacation properties, both in popular resorts and in smaller towns, increased by an average of 10-15%. This trend is part of a larger picture where seaside properties are becoming more desirable not only for vacation but also for year-round living.

The Black Sea Coast is a preferred place for living and investment.

While major resorts such as Sunny Beach, Golden Sands, and Sozopol continue to attract mainly tourists, there is an increasing interest in smaller towns and coastal villages. This is due to several factors – on the one hand, the stable economic development of the country and the ongoing conflict in Ukraine. As well as the situation in the Middle East, have led to significant changes in the way many people live and work, with many seeking peace and opportunities for relocation and work. As many of those people seen Bulgaria as an affordable option. On the other hand, these areas are starting to offer increasingly better infrastructure and investment opportunities.

In some of these smaller resorts and villages, trends typical of larger urban markets are starting to emerge, such as the growing demand for housing for permanent residence. Over the past year, the number of people not just buying properties for vacation purposes but looking to settle in these areas has significantly increased. This is accompanied by improvements in infrastructure and better living and business conditions throughout the year.

Large seaside cities – Burgas and Varna.
Burgas and Varna remain important economic and cultural hubs on the Black Sea Coast, but the vacation property market here is different from that in the smaller resorts. Both cities attract investors looking for properties for rental purposes, and those wishing to settle permanently. Although prices in Burgas and Varna are higher compared to smaller towns, they still offer significant opportunities for business and investment. The average price per square meter in these cities starts at around 1600 euros, depending on location, property type, stage of construction completion, and other factors. In recent years, particularly in the outskirts of these cities, there has been demand for properties that can be used year-round – such as apartments in new complexes or small houses with yards.

Smaller towns – the new stars of the vacation property market.

If you're looking for a quieter and more peaceful place for a vacation or investment, coastal villages like Sveti Vlas, Ravda, Aheloy, and Chernomorets have become popular destinations. These areas offer properties at prices ranging from about 900-1000 euros per square meter to 2000-2500 euros, depending on the specific location, amenities, furniture, equipment, and the level and quality of completion of the property. They are also beginning to offer more conveniences and opportunities for year-round living. There is a trend of modernization in these areas, with new residential projects, restaurants, cafes, and improved infrastructure. People seeking tranquility and nature often choose these places, while also benefiting from the proximity to the sea and improved transport connections.

How to select the right property by the sea?

Define your goal!
If your goal is a vacation property, priority should be given to location, amenities, and proximity to the beach. However, if you want to invest or settle permanently, look for areas with good prospects for year-round living and work.

Look at new developments!
In some smaller resorts and villages, newly built complexes and houses offer modern design and amenities that meet contemporary standards.

Pay attention to infrastructure!
With the growing demand for property, infrastructure in smaller towns is also improving. Check the transport links, availability of shops, schools, and healthcare services, as these may influence your decision to purchase.

Consider business potential!
If you are interested in investment, pick areas that offer rental opportunities and have an active tourist flow.

What’s next for seaside properties?
Forecasts indicate that the vacation property market on the Black Sea Coast will continue to grow in 2025, with expected increased interest in smaller coastal towns. The growing demand for properties for year-round living and improved infrastructure will continue to be the main factors supporting the stability and growth of the market.

Conclusion!
The vacation property market on the Black Sea Coast offers a variety of opportunities to meet different needs – from traditional resorts to smaller but increasingly popular towns. Whether you are looking for a place to relax or invest, it is important to stay informed about trends and select a property that matches your needs and goals. Contact us to find your ideal property! 

 HomeOption Dec. 2024