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08.11.2007 Apartment Prices in Varna Up as Well

Stroitelstvo Gradat, November 5th 2007

The average price of residential properties in Varna has risen by 25% for the first nine months of 2007 following the trend of increase in real estate prices in the whole country, analysis shows. According to brokers prices have been going up every month since the beginning of 2007. Properties in concrete blocks have gone up by 26% and the apartments in residential buildings – by 55%. Real estates in Varna’s Sea Garden are the most expensive, followed by realty in the Greek Neighborhood and the Sports Hall area.
Despite the fast increase rate in real estate prices in Sofia Varna continues to be in the lead in terms of property prices as the biggest difference is in the new construction.
The construction of malls and trade centers in the residential quarters of Bulgaria’s Black Sea capital has raised the prestige of these areas and respectively the prices.
Apart from the demand another reason for the soaring of the prices of new buildings is the increased requirements regarding the quality of the construction and the rising prices of building materials.

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