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What has happened? Real estate transactions in the major cities of Bulgaria record a fourth consecutive quarter of decline. This data was presented by the the Registry Agency for the period from April to June 2023.
Details. 8,615 transactions were registered In Sofia during the last quarter, which presents 11.7% year-on-year decline.
Plovdiv has recorded 4,175 transactions during the second quarter of the year, and they decreased by 17.8% compared to the same period last year.
There was also a decrease in the number of transactions in Varna and Burgas, with the latter being more pronounced, by 12.4% and 23.1% per quarter, respectively.
The rest of the seaside resorts also saw a drop in the number of transactions between April and June. In Balchik they decreased by 12.9%, in Kavarna - by 3.8%, in Pomorie - by 19.3%, and in Tsarevo - by as much as 36.6%.
A similar trend may be observed in mountain resorts, which also performed well in 2021 and early last year.
Razlog, which also reports transactions in Bansko, was one of the few local markets with an increase in transactions in the first quarter, but is now recording a slight decline of 2.6%. The reduction was even more severe in Samokov, where transactions were recorded in Borovets, reaching а 33.5% decline, while in Smolyan, where transactions were recorded in Pamporovo, the decrease was about 22.2%.
Source: Investor.bg
Photo by Shalev Cohen on Unsplash
