No More "Little Russia" on the Black Sea Coast: Young Bulgarians and Retired Europeans Return to Buy Properties

The holiday property market along Bulgaria's Black Sea coast is experiencing a shift away from its previous dominance by Russian buyers, now attracting a blend of younger Bulgarian professionals and retired Europeans. According to a comprehensive report by BTA, half of the buyers for seaside apartments are Bulgarians under 30, primarily from the IT sector, while the other half consists of retirees from Germany, France, Italy, and the Netherlands.

Demand is particularly strong for two-bedroom apartments within gated complexes, with average prices starting at 1,900 euros per square meter. Maintenance fees, which cover amenities like pools and gyms, no longer deter buyers, who typically spend around BGN 60-70 per month on these services. Ukrainian investors are also entering the market, focusing on new residential developments near the sea.

This snapshot of the summer holiday market in Bulgaria was detailed by Atanas Argirov and Stefka Kalcheva, members of the National Association "Real Estate" Management Board.

In Varna, residential property prices have surged by 60 percent over the past two years, prompting a shift in buyer interest towards vacation homes. Atanas Argirov notes that holiday property prices have also risen, albeit more slowly, by 25 percent during the same period, indicating a stable upward trajectory despite lagging behind residential real estate.

The preferred locations in Varna include areas around the city center like "Sts. Constantine and Helena" and its surrounding districts. These locales, increasingly structured as residential hubs, appeal due to proximity to amenities such as large supermarkets and easy access to Varna and Vinitsa districts. The trend shows an almost equal number of permanent residents and...