Retirees from Western Europe are actively buying holiday homes on the Bulgarian Black Sea coast

Retirees from Western Europe are actively buying holiday homes on the Bulgarian Black Sea coast. Most are Germans, French and Dutch. Along with them, there is also interest from our neighbours from Greece and Turkey, as well as from citizens from Scandinavian countries. They use their properties during the summer and rent them out the rest of the time.

The biggest interest in the holiday properties on the Northern Black Sea coast is shown by buyers from Germany.

"The main thing that motivates them to buy here, of course, is the wonderful climate, the good food, the affordable prices of the properties on our Black Sea coast. In Germany properties are quite expensive, and here with a relatively decent budget they can buy a nice apartment, which they can inhabit both year-round and seasonally," said Vladimir Manov, real estate agent.

For the Varna area, the most sought-after are the holiday properties in the resort of Sts. Constantine and Helena" and the area around it. Large residential complexes have been built in the resort over the years. The place is preferred because of the peace and quiet. Many homeowners live there all year round.

"Transport services to there are much better than to Golden Sands. It's definitely closer to the city," said Ivaylo Gradev, National Real Estate Association.

Among the buyers there are many Bulgarians.

"At the moment, those who are looking for this type of property are young families between 30 and 40 years old who spend a lot of time during the summer on our Black Sea coast. If you buy one such property and use it for 10 - 15 years, it comes out cheaper than paying for a different holiday every year," said Ivaylo Gradev.

Foreign buyers are mostly looking for one-bedroom apartments in gated complexes that are fully furnished and offer conditions close to home comfort.

Holiday homes are also attractive because of the prices, which are lower than in big cities. The price per square meter ranges from 1,500 to 1,900 euros.

"For sure the increase in prices of properties in the country is one of the highest in Europe, but we are far from the average prices for Europe still," said Vladimir Manov.

Prices of holiday homes on the Bulgarian Black Sea coast are expected to rise smoothly due to high demand. However, experts are of the opinion that they will remain competitive and will not reach the levels of the prices of properties in big cities.