Are we to believe these numbers? Who buys houses at such prices in Plovdiv?

The real estate market in Plovdiv is quite dynamic and house prices continue to rise. Demand outstrips supply of real estate, writes one consultancy in its analysis. The two-room apartments under the hills are the most sought after in the city.

The average house prices are around 1,000 euros per sq m, and in the center they reach over 1,300 euros per sq m. In the case of new buildings and greenfield offers, property prices are in a very wide range, from 650 euros to 1,500 euros per sq.m. sq. Favorite areas in Plovdiv are “Kamenitsa”, “Karshiyaka”, “Smirnenski” districts.

The supply remains the most active in the areas “Hristo Smirnenski” (at prices 900-1400 euro/sqm), “Karshiyaka” (950-1500 euro/sqm), “Kyuchuk Paris”, where the plaster and screed properties are offered at prices from 800-1000 euros per m2 and from 1100 to 1200 euros per m2. m, as completed.

The demand for houses near Plovdiv surroundings is increasing. They are mainly looking for properties 10 km from the city at a price of around 80,000 euros. Buyers are mostly young people from the IT industry who can work remotely. The villages Trud, Belashtitsa and others are preferred.

Buyers in the City Below the Hills prefer larger homes, with three or more bedrooms, as well as finished properties. Due to the increase in property prices and the desire of people to buy a bigger house, the amounts of loans granted by the banks increase. The number of mortgage loans in Plovdiv is also increasing.

In the holiday real estate market, the positive trend of more and more Bulgarians investing their money in properties located in our seaside or mountain resorts continues. Vacation property deals are very active, with buyers mostly using personal funds or using partial bank loans. The main objective is to use the property as a second home for holidays, and not just to be rented out.

Buyers want to protect their savings from inflation by purchasing vacation properties. One of the main requirements of the clients is that there should be no service charge and the preferred areas of Bulgarian citizens are mainly on the southern coast of the Black Sea. They are mainly looking for studio and one bedroom apartments, preferably fully furnished and ready to move into, and in most of the premises the prices already exceed the psychological limit of 1000 euros/sqm. m.

The final prices of the two-room apartments vary between 35,000 and 65,000 euros, and these figures can be even higher depending on the size, location and type of property. The increase in the price of vacation real estate over the past year is 15 to 30 percent, and the reasons for this are more expensive building materials and active demand for this type of property, the consultants emphasize. The price of the apartment itself is determined by the area in which it is located, as well as its location: traditionally, properties with a sea view or on the first line are more expensive.