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Vacation property market in Bulgaria saturated better infrastructure needed

Vacation property developments in Bulgaria are more prominent than those located in neighbouring counties, conference participants said.

Colliers International data for 2006 shows that the number of vacation properties in Bulgaria’s coastal area increased 82 per cent to reach 35 000 units. The biggest increase was registered in the regions of Kavarna and Balchik.

Romania and Serbia are currently trying to establish themselves as attractive tourism destinations in order to also develop the vacation property market.

At the same time, the quality of vacation property projects in Bulgaria varies greatly. Buyers now have higher demands, which also presupposed higher construction quality.

Vacation property prices in Bulgaria vary from 800 to 1600 euro per sq m. Colliers predicts similar levels or a slight increase in the future.