12% Growth in the Property Deals in Varna

An increase of 12% in the sales of properties in Varna is registered last year. In 2016 there are 11 813 sold properties. In the fourth quarter 3732 deals took place, representing an increase of almost 20% compared to the third quarter. This data is reported by the Registry Agency, cited by the “Standard”.

Real estate transactions increased only in the big cities, while in smaller populated areas there is a decrease. A total of 228 586 real estate deals were concluded in Bulgaria in 2016, which makes a decrease of 0.75% compared to the sales made in 2015. That is due to the contraction of the market in smaller towns.
For the last three months of the year, the property deals in the country are a total of 70 282. That represents an increase of 19% of sales compared to the previous quarter.

In Sofia there is a reported strong growth in the number of transactions. In 2016 there is a total of 26,480 properties being sold in the capital, marking an increase of 8.5%. And for the period October-December 2016 there are 8426 deals in Sofia, which is 38.8% more than the previous quarter and 11.8% over the reported transactions in the fourth quarter of 2015.

The growth in transactions in Plovdiv is also great. For the period from October to December there are 5496 property sales, which is an increase of 40% compared to the period from July to September, when transactions were 3925. In 2016 transactions in Plovdiv summed up to 16,833.

In another big city – Burgas there was an increase of transactions by 19.6% to 2,096 units in the last quarter of 2016 compared to the period from July to September. In 2016 the increase is much less compared to other major cities – only 0.6% to a total of 6740 transactions.

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