An article published in yesterday’s issue of Yantra Dnes Newspaper says that the property market in Veliko Tarnovo is starting to feel the pressure of a different crisis – there are no more properties left which can meet clients’ demands. The article also points that people are now oriented towards buying fully-furnished and equipped newly-built apartments. The demand is highest for 1- and 2-bedroom apartments. Clients are willing to give more than 40,000 euro if such an apartment meets their criteria. However these are the properties which are hardest to be found these days. The market is starved for good-quality apartments and they are nowhere in sight.
The few new blocks of flats currently under construction are sold out. The lack of top quality properties led to the hike in the prices and they are steadily returning to their pre property bubble rates. If until recently asking prices for furnished 1-bedroom apartments were in the 28-30,000 euro range – now sellers are expecting to get from 35 up to 50,000 euros!
The article also says that the analyses of leading real estate agencies based in Veliko Tarnovo show an increase of 6-10% in property prices since the beginning of 2016. VT is an attractive tourist destination and as such thousands of tourists visit it each year – a fact that also prompted an increment at the rental housing market.