Prices on Bulgaria’s residential market rose 5.4 percent last year placing 23rd in Knight Frank’s Global Household Price Index for Q4 2019. That was the same position it had held in the international real estate agency’s report from the third quarter of 2019 with prices rising 1.1 percent during that time. Knight Frank predicts that housing prices will fall during the first half of 2020 due to the economic impact of the coronavirus. It’s an abrupt turnaround from 2019, when residential properties enjoyed strong price growth, despite increased economic uncertainty and political volatility. In fact, 96 percent of all the markets Knight Frank studies in 56 different countries enjoyed rising prices. While 2020 will likely produce poor results, the study claims this will be the result of a reduction in transaction volume.
