A neighborhood in Varna is the leader in Bulgaria in terms of the highest average prices of three-bedroom apartments

The asking prices of two- and three-bedroom apartments in the Sea Garden district have crossed the threshold of 3,000 euros per square meter.
The average asking prices of three-bedroom apartments in the Varna Sea Garden district have increased to 3,324 euros per square meter by the end of the third quarter of this year and are already higher even than those in the capital's Iztok, Izgrev and Lozenets districts, which are the most expensive to buy a three-bedroom apartment in the capital.

Two-bedroom apartments in Sea Garden are offered at average prices of 3,327 euros per square meter and are only slightly lower than those in the Izgrev district in the capital.

In addition to being the most expensive in Varna, and as it turns out, almost in the entire country, two- and three-bedroom apartments in the Varna district are also among the fastest-growing in the city, with asking prices increasing by 16% and 13% respectively on an annual basis.

The significant increase in asking prices for housing is a common trend for almost all districts in the seaside capital, with nine out of 11 monitored districts seeing two- and three-bedroom apartments increase in price by double digits compared to the same period last year.

However, the sky-high prices of apartments in Morska Gradina are more of an exception for Varna; in other districts of the city, apartments can be found at significantly more affordable prices.

Only in two other districts of the seaside capital – Center and Greek Quarter – do the prices of two- and three-bedroom apartments exceed the threshold of 2,000 euros per square meter. In Greek Quarter, which is the second most expensive district in Varna for buying a home, the asking prices of two-bedroom apartments have increased by 21% per year and reached an average of 2,683 euros per square meter. Two-bedroom apartments in the district have increased in price by 26% on an annual basis, the strongest growth among the districts included in the statistics, to 2,622 euros per square meter.

In the center, the prices of two-bedroom and three-bedroom apartments have increased by 15% and 11% respectively on an annual basis, thus crossing the threshold of 2000 euros per square meter and are now offered at average prices of 2064 and 2178 euros per square meter, respectively.

The Chaika district, which is distinguished by its good infrastructure and direct connections to the center of Varna and the resorts, is in fourth place among the most expensive for the purchase of a two-bedroom and three-bedroom apartment in the city. The offer prices at the end of the third quarter are already approaching the threshold of 2000 euros and are at the level of 1977 euros and 1978 euros per square meter, respectively.

The top five of the most expensive neighborhoods in Varna for purchasing a home is closed by the Briz district, which is one of the most dynamically developing in the city due to its proximity to the center and the Sea Garden. In this district, the prices of one- and two-bedroom apartments reach average levels of 1,855 and 1,833 euros per sq m, respectively, but it is also among the fastest-growing in the seaside capital. By the end of the third quarter, the prices of one-bedroom apartments there had increased by 24% year-on-year, the most among all districts in the city, while three-bedroom apartments had increased in price by 25% per year.

At the opposite pole, the most affordable district in Varna for buying a one- and two-bedroom apartment is Vladislavovo, which is located in the westernmost part of the seaside capital and close to Varna Airport. There, offer prices reach 1,158 and 1,075 euros per sq m, respectively.

More affordable one- and two-bedroom apartments can also be found in the Asparuhovo neighborhoods in the southeast of Varna, Vinitsa in the northeast, and Galata, the city’s smallest neighborhood in the Asparuhovo district, with asking prices ranging from 1,130 to 1,300 euros per square meter.

In four neighborhoods of Varna, the average asking prices of one-bedroom apartments increased by 20% or more by the end of September compared to the same month last year. These are Briz, Vinitsa, Grtska Mahala, and Izgrev. For two-bedroom apartments, price increases of over 20 percent were reported in Grtska Mahala and Briz.