The optimal ratio between property size and price makes two-room houses in Bulgaria preferred for purchase. Migration processes from smaller settlements to the four main cities – Sofia, Burgas, Varna and Plovdiv continues. The reason is that most of the production is concentrated there.
For the past 12 months, Plovdiv is the city where the average price per square meter of two-room apartments has increased by only EUR 23, while in the capital the increase is EUR 84. At the same rates of price increase are the homes in the seaside towns – just over 150 EUR/sq.m., according to the data of the largest real estate site imot.bg.
Sofia
Nearly half of the homes sold in the first quarter are two-bedroom, according to data from major real estate agencies. A significant increase in prices has been observed since the beginning of February, when the average value per square meter was 1,420 EUR and, with slight fluctuations, remained at these levels until the beginning of May.
Plovdiv
The dynamics of the two-room housing market in the City under the Hills is quite strong. Since the beginning of the current year, the average offer price has exceeded 1000 EUR/sq.m three times – at the beginning of January, February and mid-April, then from the beginning of May the price returned below 1000 EUR/sq.m. Compared to May last year, the increase per square meter is EUR 23, according to imot.bg data.
Varna
Stable upward trend. This is how the situation on the two-room housing market in our Maritime Capital for the past 12 months can be briefly described. Since the beginning of the current year, the average offer price has risen from 1,190 EUR/sq.m to 1,270 EUR/sq.m, and the last levels have been maintained for nearly a month.
Burgas
The offer of more two-room apartments in new construction in Burgas has increased the average price per square meter to 880 EUR/sq.m since the beginning of the year. For comparison, at the end of last year it was 770 EUR/sq.m. At the end of January and the end of April, the market tried to jump to average levels above 900 EUR/sq.m., but by the beginning of May it was back to values of 890 EUR/sq.m.
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE