With the most widely sold housing in our country – two-room apartments, the increase in prices continues, according to the data of the largest real estate website imot.bg. In Sofia and Plovdiv, it is within 6% during the past 12 months. We see a double-digit rate of increase in the two largest seaside cities – Varna and Burgas, respectively 14% and 13%.
The square meter of residential space remains the most expensive in the capital – just over 1400 EUR, followed by Varna – 1350 EUR. Homes in Plovdiv are also sold for just over 1000 EUR. The offers in the Burgas region are under 900 EUR/sq.m.
Sofia
For the past 12 months, the average offer price of housing has risen by nearly 100 EUR/sq.m, which in percentage terms is 6%. The increase in prices is smooth, since mid-March prices have remained at levels slightly above 1,400 EUR/sq.m, according to < strong>imot.bg.
Plovdiv
Strong price dynamics over the past 12 months have been observed in the city below Tepetata. Until mid-November last year, the average bid price remained below EUR 1,000. Growth followed and retention at levels above 1000 EUR/sq.m. The main reason for the strong price dynamics that we see in the graph is the periodic entry of newly built objects into the market. Their purchase, which at certain times leads to a lack of supply of this type of property and the subsequent release of new ones, according to local brokers.
Burgas
The city is growing, and the new development almost follows the dynamics of Plovdiv, local mediators point out. However, here, in contrast to the city below the Hills, prices move in a narrower price range. By the end of last year, the average offer price was at the level of 760 EUR/sq.m. However, since January of this year, there has been a sharp jump to 880 EUR/sq.m and the retention of this price until mid-July.
Varna
Three smooth increases in the offer prices of housing are observed in Varna. The first is from December last year to mid-March. Then the price increase was within 1170 EUR/sq.m to 1990 EUR/sq.m. In the second wave, which lasted until mid-April, the increase reached 1,230 EUR/sq.m, and from then until the beginning of June, an increase in prices was reported to levels of 1,300 EUR/sq.m, which continued until mid-July.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE