Property prices in Veliko Tarnovo and the region are rising despite the pandemic

Despite the pandemic, property prices in the Veliko Tarnovo area are rising. Contrary to initial expectations, the real estate market was not severely affected during the pandemic year.

In the old capital, the most preferred neighborhoods by buyers are Akacia, Kartala, the center and wide center, as well as Kolyu Ficheto and Buzludzha. There, prices vary between 600 and 700 euros per square meter for two-bedroom apartments, as well as between 500 and 650 euros for one-bedroom apartments. Newly built apartments are increasingly in demand. It is interesting that only 30% of homes in the area are purchased with a bank loan, unlike other regions where the percentage is about 60%.

There is also around a 40% increase in property prices outside of Veliko Tarnovo, in the immediate vicinity of about 20-30 km. Because of the pandemic more and more people are looking to move to a house. With the lockdowns and the opportunity to work from home, people are starting to see the appeal of village properties – a bigger living area, a garden and last but not least a price that is lower than that of an apartment in the city.

For example, a renovated 90 sqm house with a garden of over 2000 sqm in the village of Kapinovo can be found on the market for 46 000 euro. For comparison, for around that price in the city you will be able to find a one bedroom apartment with an area of 50-60 sqm. If you want to be even closer to the city, you can check out this property in Samovodene – a 170 sqm house with a garden of over 2000 sqm for just 35 000 euro.

Most of the people are looking for villages that have convenient transport to the nearest municipal centers, have shops and are well maintained. There are many villages in the region that meet those criteria – Merdanya, Polski Senovets, Mindya, Tserova Koriya, Novo Selo and many more. In almost all of the villages, there is a property for everybody – a ready to move in house with no works needed or a cheap fixer-upper that can be turned into a lovely family home.

If after reading this article you have the urge to buy a nice house not far from Veliko Tarnovo you can contact Yantra Homes estate agency. Feel free to browse their website and make a list of your desired houses and they will help you pick out the perfect house for you.