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Bulgaria Holiday Homes Supply on the Rise - Colliers
Updated: 2007-10-03

Bulgaria Holiday Homes Supply on the Rise - Colliers

Business

The resort apartments segment of the real estate market in Bulgaria is growing at an increasing pace, real estate consultants Colliers said on Tuesday.

The number of such properties in the mountain resorts grew by more than half in the first six months of the year to reach 76,500 at end-June.

The growth was most significant in the Bansko area, including Razlog, which accounts for 78% of the new supply, Colliers said.

Supply in Black Sea resorts rose at a slower pace, but still recorded an impressive 39% growth, or a total 13,500 apartments, in the same peiord.

Sunny Beach continues to account for more than one third of the supply in this segment, other resorts saw accelerated development as well.

In St. Vlas and in Sozopol holiday homes supply increased by 52% and 62% respectively, Colliers said.

But the overall sales prices in the resort apartments segment remained unchanged for the past half year as supply continues to outpace demand.

Price ranges remained within last year's limits between EUR 800 and 1,700 per square meter, according to Colliers' data.

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