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With prices of 1,260 Euros/sq.m.: Housing in Plovdiv cheaper than in Varna and Burgas
Today on the real estate market in Bulgaria there is a change in the buyer's demand - they choose a home for personal use and the quality of life is a main priority. This was the leitmotif of the national conference Inspire to Higher, which was held in Plovdiv on the initiative of the National Real Estate Association (NREA).
"As of the third quarter of 2024, BULGARIAN PROPERTIES' data shows that the average price of housing in Plovdiv is 1,260 euros per sq.m. compared to 1,170 euros for the same period last year, Polina Stoykova MRICS, Managing Director and co-owner of BULGARIAN PROPERTIES, told Maritsa. It can be seen that prices continue to rise, albeit at a slower pace compared to previous years. Plovdiv still has lower house prices than Varna and Burgas, where they reached 1,445 and 1,300 euro/sqm respectively. Sofia remains the most expensive city - by nearly 600 euro/sq.m. higher than Plovdiv. The average price in the Bulgarian capital at the moment is 1,840 euro/sq.m", adds Stoykova.
According to her, one- and two-bedroom apartments remain the most sought-after, with preferences mainly for new construction. There is a shortage in most areas of the second largest Bulgarian city, as the supply has remained quite limited this year, especially on the secondary market for already finished and furnished apartments. "On the basis of customer demand, the lack of supply seems to be felt the most in Karshiyaka, Marasha, Kamenitsa 1 neighbourhoods and in the centre," Polina Stoykova added.
An analysis by BULGARIAN PROPERTIES shows that the average house price growth in Bulgaria for 2024 is expected to be around 10%, which is higher than the forecast at the beginning of the year for growth around the rate of inflation. "The reason should be sought in the ongoing mortgage expansion at low interest rates, and the overall favourable economic environment," Stoykova explained.
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