Housing prices in Bulgaria

Whether 2013 was a good year for buying a home or perhaps 2014 would be more appropriate?

This question can hardly be answered uniquely.

In the majority of metropolitan areas, the change in the price per square meter of living area ranged from-3% to + 3%. In 15 neighborhood prices in December 2013 were like those in January 2013 point data.

If we look at the dynamics of prices in the past five years, definitely the past 12 months can be characterised as the most peaceful in price since the beginning of the crisis.

Housing price segment in the capital can be divided into three groups: areas in which is observed a slight appreciation, in those in which take into account the weak fall and in neighborhoods where prices are not changed in 2013.

Those who didn’t wait and didn’t lose of this, are the buyers of apartments in areas such as Lozenetz, Medical Academy, Geo Milev, Musagenitsa, Knyazhevo. There the value per square meter remained unchanged.

Doktorski pametnik, Slatina and Lulin are the neighborhoods where it was reported a rise in prices by 3%. In Gevgeliiski and Durvenitsa the rise is respectively by 5% and 4%. Almost without modification (1% increases) is registered in the southern elite neighborhoods like Dragalevtsi and Simeonovo.

In Hladilnika and Ilinden prices dropped by 5%, in the area of Oborishte and Krasna Polyana, respectively by 7% and 6%. In the neighborhoods such as Iztok, Beli Brezi and Drujba the fall was 2% -3%.

Top 3 of the most expensive neighborhoods in 2013 is headed by Doktorski pametnik district. There the price per square meter was 1380 EUR at the beginning of the year and then it increased to 1429 EUR by December 2013, or with 3%.

Second and third place rank Ivan Vazov and Izgrev respectively, with prices to December from 1101 EUR/sq.m and 1012 EUR/sq.m.

The cheapest housings in the capital are traded for 450-470 EUR/sq.m. They are found in the Modern suburb and Benkovski.

The expectations for 2014 are to begin construction of new residential buildings, due to the depletion of the market of quality new properties. This will undoubtedly have an impact on property prices in the secondary market. In what manner exactly we will see over the next 12 months. One thing is clear, though – the “wait” is no longer on fashion.