'Bulgarian Riviera' Takes Shape in Northern Greece

The Greek publication Kathimerini writes that a “Bulgarian Riviera” is emerging around Kavala, driven by growing investments from Bulgarian buyers in the area, BNR reported. According to local brokerage firms, Bulgarians have transitioned from being primarily tourists to becoming significant property owners in Northern Greece, acquiring everything from caravan plots to multi-story villas. Construction companies note that new developments are frequently purchased by Bulgarians even at the early stages of construction.

The Kavala region has long been popular among Bulgarian visitors, and this interest has now extended to real estate investment. Brokers indicate that property prices have surged in recent years, rising from around 900 euros per square meter to over 2,000 euros, yet Bulgarian demand remains strong. Many buyers use their homes as summer vacation spots, while others rent them out. Some of the older generation have chosen to live there permanently, attracted by the favorable climate.

Local businesses have noticed the impact of Bulgarian buyers and tourists. A survey of restaurants in the area found that owners are appreciative of the Bulgarian clientele, with nearly all establishments now offering menus in Bulgarian to accommodate visitors.