Prices in the region of Trakia are up to 70% growth for the last 4 years, in the other areas there is no significant increase
Nearly 50% of the deals in residential properties in Plovdiv in 2017 arPrices in the region of Trakia are up to 70% growth for the last 4 years, in the other areas there is no significant increae for new construction, summed up representatives of over 60 agencies during a discussion, organized in the city.
The growth of issued permits for new housing construction on an annual basis is 65%. It is because of this trend that brokers challenged during the meeting the registered by the Registry Agency a decrease of 6% in real estate transactions where the purchases of new construction without act 16 are not reported.
Plovdiv is expanding due to the development of new productions in the industrial zone, experts said during the discussion.
Economic growth has led to an increased demand for skilled and unskilled workers coming from the less developed economic regions of Northwestern Bulgaria, Haskovo and Dimitrovgrad and settled in Plovdiv. The new inhabitants are looking for apartments built with better materials, with better maintained entrances, so the interest is mainly for new construction.
The greatest interest is the purchase of a property for investment purposes. Bulgarians living abroad are also interested in housing - they are mostly oriented to urban properties but have recently been looking for rural ones.
Most preferred for investment are two-room apartments, but due to raising the standard of living in Plovdiv, the demand for three-bedroom and luxury properties is growing - a trend that has only recently been observed in Sofia.
Real estate prices in the city have not seen significant growth over the past 4 years - the average increase is about 15%. The exception is the Trakia area, where apartment prices have jumped by up to 70%, mainly due to the improvement of the neighborhood's infrastructure.
Transactions with plots have increased by 15% and their prices have jumped by 20%, the agencies said.
There is a growing interest in the holiday properties in the Tsigov Chark complex.
The meeting also presented technological tools in favor of the work of the real estate cadastre and property brokers.