In recent years, the share of buying a home for the purpose of own use, rather than renting, has been increasing . Among the main reasons for this trend is the increase in the price of this type of real estate, as well as the still low interest rates on mortgage loans, analysts comment.
The focus when buying an apartment in Plovdiv, for example, is on two- and three-room properties, with the average built-up area acquired by buyers in the first half of the current year being 86 sq.m. Rumors on the market in the City under the Hills show that 47% of transactions are for the owner to live in the newly acquired property, and only 23% - for the purpose of renting it out.
In the last 12 months, the price of two-room apartments in Plovdiv has increased from EUR 950 to nearly EUR 1050, according to the data of the largest real estate site imot.bg. The growth is almost smooth, in contrast to the three-room apartments, where the dynamics of prices is quite large, and the increase is from 960 EUR/sq.m to 1050 EUR/sq.m. From the end of July until now, the average price per square meter of living space for both types of properties has been equalized.
Prices of 2-bedroom apartments for the past 12 months
Prices of 3-bedroom apartments for the past 12 months
You can see detailed statistics on average property prices in Bulgaria by cities and neighborhoods HERE