site.btaTwo-Room Apartments for Some EUR 85,000 Most in Demand in Burgas, Say Real Estate Agents

Municipalities in Burgas Region have issued almost 210 permits for the construction of residential buildings in the third quarter of 2024, said the Southeast Territorial Statistical Bureau on Thursday.

The total number of apartments in those buildings was a little under 790. According to the data, the number of issued permits for the construction of residential buildings increased by 24.6% compared to the previous quarter, while the number of apartments in them decreased by as much as 31.9%. A decrease of nearly 22% was also recorded in the total built-up area of ​​the buildings in the third quarter compared to the second quarter of 2024.

On a year-to-year basis, the issued permits for the construction of new residential buildings increased by almost 30% compared to the third quarter of 2023, while the number of apartments in those buildings decreased by 23.2% and their total area decreased by 3.2%.

In Burgas Region, the share of newly built two-room apartments is the highest with about 50%, followed by apartments with three rooms at about 25%. The share of apartments with five or more rooms is at 2% to 3%.

Real estate agents told BTA that two-room apartments asking a price of around EUR 85,000 are the best-seller in Burgas. Depending on the city district however, the prices can vary, as an apartment of a hundred square metres in the city centre can exceed the price of EUR 150,000. Due to the high prices and the need to mortgage the purchased property, a large number of buyers prefer to buy before the actual construction of the building has begun as it lowers the price. More and more buyers are also choosing residential properties which offer additional amenities such as parking space and modern controlled access systems.