Bulgarian Real Estate Market: Positive Results for Q3
6% growth – this is the rate of growth of real estate prices in the capital of Bulgaria, Sofia, in the first nine months of 2015. The number of completed transactions in the same period increased by 20% compared to the same period last year.
The average price per square meter of housing in the capital was €781 (last year this figure was €738). By the end of September 2015, 16,838 real estate transactions were closed (13,888 for the same period in 2014). In the third quarter, the average price of apartments in Sofia was €66,500.
As for other regions of the country, the three main centers – Plovdiv, Varna and Burgas – also demonstrate steady growth. Thus, in the country's second city Plovdiv, the total number of concluded transactions increased by 5% over the first 9 months of 2015, reaching an average price per square meter of housing of € 570 by the third quarter. The cost of housing increased by 4.5%.
As for Varna, the average price per square meter reached €800 – this is the only Bulgarian Black Sea resort where prices are comparable to those in the capital. The overall price increase was 6%.
The cost of a square meter of housing in Burgas has increased to €600. The number of completed transactions has increased by 5%.
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