Capital: the houses around Tarnovo are traditionally popular

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 both 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.

City 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, has everything you need and is populated mostly by young people.

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.

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