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| The number of real estate deals in Bulgaria rose 13% year-on-year in September, reaching 18,142, data by the Registry Agency shows |
September is still not enough though. A total of 132,275 property sales were registered in the country in the first nine months of 2020, down 10.4% on an annual comparison basis.
Ubiquitous recovery
In September, growth was observed in each of the country's six major cities.
In Sofia and Plovdiv the increase amounted to 20% - 2450 deals in the capital and 1343 in Bulgaria's second-largest city.
As many as 1091 deals were concluded in Varna, up 12.4%. Stara Zagora has a similar growth (13%), with 392 registered sales.
The real estate market in Ruse marked a single-digit increase (5%) to 427 deals. Burgas comes last with 4% sales growth to 544 deals
Overall, the six cities accounted for 34.4% of the country's property sales in September, compared to 33.6% in the same month last year.
What happened
During the three months of the lockdown - March, April and May, the activity on the real estate market fell by an average of 38% below the levels of the previous year. April was the worst, with a 55% collapse on an annual basis to 7,678 transactions across the country. In March the decrease was 27.5% to 11,808 transactions, whereas in May they fell by 30.7% to 11,270.
During the summer months - June, July and August, activity began to recover. Transactions were 0.5% fewer on average, compared to last year. In June, they were 0.96% below the number achieved in the same month in 2019. July was the strongest summer month for the real estate market in Bulgaria, with transactions rising 2.6% year-on-year to 18,204. In August, transactions decreased by 4.3% on an annual basis to 17,802.
The data of the Registry Agency cover sales of buildings and land confessed to a notary. They do not include preselling.
| In the last edition a quote by Verka Petkova, Business Development Director at Colliers was wrongly illustrated with a photo of Stanimira Pashova, partner in Forton. We apologize for the mistake. |
| Accent |
|---|
| The number of real estate deals in Bulgaria rose 13% year-on-year in September, reaching 18,142, data by the Registry Agency shows |
September is still not enough though. A total of 132,275 property sales were registered in the country in the first nine months of 2020, down 10.4% on an annual comparison basis.
