Property prices in Bulgaria’s Plovdiv, Varna, Burgas rise in Q3

Real estate prices in Bulgaria’s three biggest cities after Sofia have shown sustained recovery in the third quarter of the year, BULGARIAN PROPERTIES said on Thursday.

“There is a feeling that those urban housing markets have shown very good viability and attracted the attention and trust of investors and local buyers,” Polina Stoykova MRICS, Managing Director Bulgarian Properties said in a statement.

The rate of increase of property prices in Plovdiv, Varna and Burgas is very close to the rise in prices registered in Bulgaria’s capital city in the third quarter, according to data from the real estate agency.

The average housing purchase price in Plovdiv, Bulgaria’s second-largest city, has increased by 4.5% on the year, reaching EUR 570 per square metre in the third quarter. The overall number of property deals including apartments has grown by about 5%, reflecting a rise in demand in all segments.

The average price, at which urban property deals were closed in Varna in the third quarter, was about EUR 800/ sq.m., an increase of about 6% year-on-year. The city on the Black Sea coast is the only one in Bulgaria, in which housing prices in the review period were similar to those registered in Sofia, BULGARIAN PROPERTIES said.

In Burgas, the average housing price was about EUR 600/sq.m. in the third quarter. The number of concluded property deals increased by some 5% year-on-year in the same period.

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