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Property market in Veliko Tarnovo area - analysis
The new regional Manager of BULGARIAN PROPERTIES for Veliko Tarnovo and Garbovo - Dimitar Pavlov - analyzes the market of housing and rural houses in the region.
Veliko Tarnovo has always been an attractive area for investment and permanent living. Properties in the area over the last 20 years have continued to attract the interest of both Bulgarian and foreign buyers from various countries around the world.
Residential market in Veliko Tarnovo
Due to the specifics of the terrain, the town has little room to expand, which in turn leads to a more limited supply and a trend of steadily rising prices. In addition to this, demand for urban property is quite strong and the market is now definitely a sellers' market.
There are currently only two neighborhoods where there is an opportunity to build and most new construction deals are focused on them. The demand is mainly for one or two bedroom apartments and the buyers are mainly young families, people from the surrounding towns and Bulgarians living and working abroad who are investing in housing.
The prices of apartments in the city currently range between 800 and 1,000 euros per square meter. Preferred areas are the wide center in the Druzhba Park area, as well as around the stadium and the hospital. The presence of schools, kindergartens, large chains of grocery stores in the vicinity determine the attraction of people to these places. The fastest growing neighborhood is "Kartala" - it is located on a southern slope with wonderful views and has everything you need.
The rental market is relatively stable. There is a high demand for rental housing from Ukrainian citizens, but the problem is that they are looking to rent for 2-3 months, while landlords are willing to sign contracts for at least a year.
Rural houses
There is a strong interest in the houses in the villages around Veliko Tarnovo and Gabrovo and it comes from different types of buyers.
One of them is the local buyers who want to move to live in the countryside. They are looking in the nearby villages within a radius of 15-20 km.
We also have many foreign buyers interested in rural properties, increasing the perimeter up to 50-60 km.
Over the last year, more and more clients are coming from Sofia. Their desires are for property in the Balkan Mountains, and the demand is for quite many locations - from Elena to Teteven.
Deals are concluded extremely quickly - attractive offers are sometimes sold in a matter of days.
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Dimitar Pavlov has almost 20 years of experience in real estate. He has held management positions in several real estate companies, and since the Spring of 2022 he has been appointed Regional Manager of BULGARIAN PROPERTIES for Veliko Tarnovo and Gabrovo.
He is also an active estate agent on multiple listings. Dimitar is very focused on providing excellent service and personal contact with our clients, to discuss any issues, listen and find solutions.
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