Real estate in Stara Zagora stage uvexpected upsurge

propertywisebulgaria.com, 2007-12-09

     Property prices in Stara Zagora recorded a boom in November. Prices have almost doubled in comparison to last year's levels.
     Demand far outstrips supply, according to Sergei Kozhin, owner of Evroimoti-Kozhin real estate agency. As a result of the recent remarkable demand for both old and new construction type units, price differentials between the two kinds of residential property have almost disappeared. Flats in the most prestigious neighbourhoods sell at 700 euro a sq m. Off-plan offers start from 500-550 euro a sq m. Well-maintained pre-fabs have also recorded an increase in prices - some of them ask as much as 500 euro a sq m. Purchases are financed through loans and cash payments.
     Rentals have also exhibited an interesting trend. Company headquarters, based in the vicinity of Maritsa Iztok power plant, have established rigid rules and requirements concerning luxury apartments. Owners who meet all clients' demands, including the provision of luxury furniture, are now able to conclude long-term rental agreements at prices that reach 400-500 euro a month. Retail rentals have also registered an increase. Units located in the town's centre rent at not less than 1000 euro a sq m and enjoy healthy demand.
     Stara Zagora's strategic location and good infrastructure as well as the growth of business and energy sector, rank the town among Bulgaria's five front-runners in terms of construction growth rates and real estate sale and rent prices.
     This tendency is likely to sustain itself until the end of the year, Kozhin commented.

Latest news about Bulgarian property market

Property Articles - RSS Feed

     The "Property articles" RSS is the section for Bulgarian real estate news. Specialists of Bulgarian Property Ltd. work up the information in Bulgarian newspapers, other edition, and Internet and arrange all articles that touch the area of real estate and themes close to it. We can without extrapolation say that we supply our customers and visitors of our web site with latest and most actual press info.