What is the mass demand right now in the property market?
The most sought after options on the property market
The first half of the year is coming to an end. This means that we can draw some conclusions regarding the real estate market. It continues to develop in big cities and Plovdiv is no exception. Inflation is hitting new records and experts are seriously talking about an impending economic crisis, investors are putting their capital into buying real estate and people are trying to solve their housing problems as soon as possible. The ECB is likely to raise interest rates in the summer and if that happens, mortgages will not be so affordable anytime soon.
Rental
In the “rental” segment the most popular are one-bedroom apartments and studios. These options have become even more popular with the influx of foreigners. There is still no shortage of quality apartments on the market, but prices vary considerably depending on the area. Currently the price range for one-bedroom apartments is between 350-650 BGN per month.
Purchase
The housing market in Plovdiv is one of the most dynamic in the country. According to our estimates, prices per square meter increased by 17% during the year. The impact of the coronavirus is still being felt in the market. People are increasingly moving towards larger apartments and villas. Proximity to green areas, good location and quality construction are the most popular requirements when looking for a property. It should be noted that the market is also influenced by the environmental situation. It is a fact that RIEW returned the documents for the environmental assessment of the master plan (detailed development plans), which does not meet the parameters of the master plan. Surely a consensus will be found, but in the meantime the high quality houses that have already been built, in close proximity to green spaces, are particularly valued.
Investments
Among the investors there are many fellow citizens who work abroad. For them, the most important are liquid properties that they can easily dispose of. Such properties are mostly garages and studios. Depending on the location, they can guarantee a flow of customers willing to rent the property or buy it.
