New hotel in Nessebar, Bulgaria joins property market boom

  • 13 years ago
  • Uncategorized

Melia Hotels International announced this month that it will open a sixth hotel in Nessebar, Bulgaria, as the country experiences both a property and popularity surge.

Melia’s four star hotel, located in the country’s popular tourist area, is called the Sol Marina Palace and will provide 128 rooms to visitors. The property will join the company’s existing range of resorts in the area from summer 2012.

Bulgaria’s property boom

Melia’s announcement is echoed by the National Statistics Institute’s findings that property construction in Bulgaria rose by 13% in 2011.

Although the number of new houses has dropped by 26% in recent months, the increase year-on-year indicates a growth in the country’s property market. As construction continues across the country, interest from overseas investors has surged. Sales of Bulgarian real estate are now rising, as buyers look for bargains following an average price drop of 6.4% during the year’s second quarter.

Boost in buyer interest

According to, August saw Bulgaria become the seventh most popular real estate market in the world. The international property portal has reported an increase in investor interest, particularly in Nessebar, Bulgaria, with the country attracting 3.3% of July’s queries.

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