What's next for real estate prices in Bulgaria in Bansko?

The average market price of real estate in Bansko increased by 25 percent in 2022. Now it is 700-800 euros per square meter.

I was interested in taking a look ahead at real estate price expectations in Bansko in the coming years: Read our conversation with Cristian Zarnescu of Plus Property, where we delve into real estate, market trends, how to buy (including auctions), how to sell and more.

Economic conditions in Europe could reduce average real estate prices by 15 to 20 percent over the next two years. But I think the Bansko market will decline 10 percent over the next 10-12 months and remain stable and flat in 2024 and 2025. Until mid 2025, when I think prices in Bansko will start to rise again.

The factors that are driving prices down are the economic situation in Europe. For example, rising interest rates sucking up cash and encouraging keeping money in the bank rather than investing in real estate.

The factors that drive up real estate prices in Bansko are numerous.

For example, more people are discovering Bansko than are buying ski real estate here. I see that more and more buyers are looking for year-round housing in Bulgaria and want to enjoy the quality of life here. Then there are digital nomads, remote workers, retirees and investors. Each of these groups has different motivations related to community and tax residency. All of them represent a significant portion of the market.

To continue reading and watch the video interview, please visit banskoblog.com.