Burgas property: far more new builds, fewer sales – prices up about 10 per cent

On Bulgaria's Black Sea coast, the housing market is moving in opposite directions: more is being built, but less is being sold. In the Burgas region, construction began on 3,481 homes in the first half of 2026, 33 per cent more than a year earlier. Building permits were issued for 3,078 homes, an increase of 49 per cent. That is according to Dobromir Ganev, an entrepreneur and former chairman of the National Association 'Real Estate', speaking at a meeting in Burgas on the housing market and energy efficiency, Flagman.bg reported on 28 October.

According to Ganev, the number of sales fell by around 20 per cent in Burgas and Varna, and even more in Nesebar. Prices in the city of Burgas, however, rose by about 10 per cent. He expects growth to slow to 5 to 8 per cent a year by the end of 2026 or early 2027. Many owners do not want to sell and are not putting their properties on the market at all, he said. Buyers are increasingly reluctant to purchase at a very early stage of construction because the risk is high. 'It is not good for anyone for prices to rise at such a pace,' Ganev said.

Nationwide, the Registry Agency recorded 45,312 property transactions in the third quarter of 2026, 22 per cent fewer than a year earlier, the portal Ruse.news reported. According to Ganev, housing affordability has worsened by more than 20 to 25 per cent over the past three to four years. He sees the main pressure on the market in migration to the big cities of Sofia, Varna, Burgas and Plovdiv, while short-term rentals, at around 7,000 properties nationwide, play a smaller role. He proposes social housing, dormitories for young people and public-private partnerships.