Awakening of the market outside of Sofia

In major cities prices will continue to rise, but unlike this year's lagging behind the capital, in 2017 there is a chance to equalize the price growth in some of them, mainly as a result of factors acting in Sofia, but manifested by sustained action beyond the city. Those are the prognosis of the experts for the market outside the capital.
According to the brokers, the situation in Plovdiv is similar to the situation in Sofia as expected in course of dynamics and interest on purchases. The excellent economic development of the city, and the serious direct investments there contributed to the rapid development of the housing market. But the growth of transactions for the period January to September there had dropped down significantly from 16% in 2015 to 4% this year. In Plovdiv, however, the index of new construction has begun with a decrease of over 40% for the first nine months, say experts. This probably means that on their market, investors can expect significantly easier realization of constructed housing.
Varna and Burgas situation last year was almost equal to the one in 2015. It was reported an increase in transactions in the first nine months in both cities. In Varna with about 5.5%, while in Burgas- about 2%. Our expectations for next year are good for the market and in relative balance between supply and demand. Reducing purchases from Russian citizens will still continue to influence the market in Burgas in the coming year. Migration in the southern part of the country is considerably lower than in the north. Therefore, Varna attracts more number of Bulgarians from the neighboring regions of Shumen, Targovishte, Razgrad and Dobrich. The started new residential units in the two cities for the first nine months also decreased significantly compared to 2015 in Plovdiv. Accordingly, the decline in Varna is about 42% and Burgas is 37%.
The expectations for price levels in the two major cities in the country is to move similarly to those in 2016- likely to rise to about 4-5%.