The real estate market in the country remained alive despite the pandemic and the crisis

The pandemic has failed to seriously affect the housing sector The real estate market in the country remained alive despite the pandemic and crisis. Expectations are for a fall in prices for this year by an average of 5%.

There is a decrease of 18% for the whole country in the concluded real estate transactions for the first half of the year. For Sofia the decrease is 13%, and the lowest is the decrease for Varna - there is only 7.5%, in Plovdiv is 15%, for Burgas is 19%. However, the volume of transactions is significant.

For the first half of last year in Sofia, 13 thousand deals were realized, and for this year they are 11 thousand. The situation is similar in other cities.

The data for the first quarter of the NSI show that for four years the prices of housing in Sofia have risen by almost 50 percent, which ranks our capital first among the big cities in the ranking of property prices.

The new active groups in the real estate market are individuals and companies with significant savings who want to take advantage of the situation - this is a normal process. Another new group is Bulgarians who have returned from abroad, and they also buy or rent a property.

The rental market in the big cities lost some of its momentum during the pandemic due to the lack of schools since March, so it has suffered slightly, but not much. Slightly lower rental prices are also reported.