Home prices in Plovdiv are stablе

The housing market in Plovdiv has almost crossed the first half of 2013, meandering up and down without any drastic changes in prices, according to the data provided by real estate agencies.

Apartments in brick blocks are sold at prices 460-590 Euro per square meter. Exception is the central part of the Old Town, where selling prices reach 630-650 Euros per square meter.

Apartments in prefabricated blocks in Plovdiv are sold in more narrow range between 400 and 500 Euro per square meter. According to the national statistics, the average price of apartments in the city is 919.67 Bulgarian lev per square meter. This is the lowest level since February 2006, when it was 895.50 lev per square meter.

The second city in Bulgaria has never been the second in terms of property prices. Ahead of it always were the coast pearls Varna and Burgas. So it was 20 years ago, at the beginning of 1993, when the National statistics began observer the housing market in the country. Traditionally the fourth place in the residential rating has a logical explanation. People living in Plovdiv have always lagged behind in terms of the average wage of Sofia, Varna and Burgas. At another point, the cultural center of southern Bulgaria has never been famous with high property prices. Usually apartments cost by 5-10% above the average property prices in the country.

Plovdiv offers good opportunities for investment. If a rental price of a one-bedroom apartment is 200 euros and an average selling price is 630 Euro per sq.m., the investments would be returned within 17 years. The similar level of annual yield (5.88%) is almost unattainable in Sofia, with the exception of the Student town in the capital. Investments in properties located in the centre of Plovdiv outstrip the average deposit interest rates in the country (for 1 year), which are 4.31-4.62%.

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