What next for property prices in Bulgaria’s Bansko?
The average market price of Bansko property jumped by 25 per cent in 2022. It now stands at 700-800 euro per square metre.
I was interested to take a look ahead at Bansko property price expectations for the next few years: Read on for my interview with Cristian Zarnescu at Plus property where we take a deep dive into property; the market trends, how to buy (including at auction), how to sell and much more.
Market forces may push average prices in Europe down by 15 per cent to 20 per cent over the next two years. But I think the Bansko market will slip down by 10 per cent over the next 10 to 12 months and remain stable and flat in 2024 until 2025. Until around mid-2025, when I think Bansko prices will move up again.
Forces that push the prices down are the economic situation in Europe. For example, higher interest rates sucking up cash and rewarding holding cash at the bank rather than investing in property.
The market forces that are pushing the Bansko property prices up are many. For example, more people are discovering Bansko, than buying ski property. I’m seeing more buyers are looking for all-year-round residence in Bulgaria and want to enjoy the quality of life here. Then there are digital nomads, remote workers, retirees and investors. They have their motives due to the community and tax residency reasons. All are sizeable sections of the market.
To continue reading, and see the video of the interview, please visit banskoblog.com.