"Sofia is not Bulgaria" is an increasingly common expression, unfortunately, however, also increasingly in connection with negative phenomena. One of them is undoubtedly economic inequality. It is a fact that about 2 million people or approximately one third of the entire population of the country earn their living in Sofia. In other big cities such as Plovdiv, Varna, Burgas and Ruse there are also good opportunities for work, training, developing your own business. However, smaller settlements and even some regional cities have a much sadder fate - they are depopulated, schools and workplaces are closed, the population is aging, and incomes never catch up. How does this affect the real estate market - both in terms of sales and in relation to the prices of apartments for rent in Sofia and the country - comment the experts from "Realistimo".
The North-West region is one of the poorest in the country
New construction there is considerably less, and cities like Vidin and Montana are rapidly depopulating. The beauty of the region does not save it from depopulation. In Vratsa, despite the university, average prices are around 750 euros per square meter for sales and around 350-400 BGN on average for rent. In Vidin - the city in the region that is depopulating and aging the fastest - buying and selling a property is completely possible for just over 500 euros per square meter.
The North Central region has good conditions for work and tourism
The cities of Veliko Tarnovo, Gabrovo, Tryavna and other famous tourist destinations are located here. In the Old Capital and Gabrovo, the universities contribute to the prosperity of the settlements - thus an apartment in these two cities can be rented for an average of BGN 350 per month, with the proviso, however, that, especially in Tarnovo, this price varies significantly according to the condition of the property and its location so that in the central part of the city the rent reaches up to BGN 1000/month. In terms of sales, the Old Capital remains with high prices of just over 1,000 euros per square meter on average, close to those in Rousse. In the other cities of the region, the variation is not very big – a good deal for a two-room apartment can be concluded for an average of 800-900 euros per square meter.
In the Northeast region, prices remain high
This can be explained by the fact that there are also a number of Black Sea towns that are attractive with their vacation properties. Among them is Varna - the "sea capital" of Bulgaria. However, there are significant differences in the economic development of the various settlements, which deepen in direct proportion to the distance from the sea - so it is no surprise that property prices in the region vary in extremely wide ranges from around 700-750 euros to 1800 euros per square meter. Regarding rents, the situation is similar - while in Dobrich or Shumen, for example, rents for an apartment are around BGN 350 per month, in Varna they reach up to BGN 1,000-1,200.
The situation in the Southeast region is contradictory
Burgas, Sliven, Yambol, Stara Zagora are the districts here. The greatest interest is in properties along the Black Sea coast, similar to that in holiday homes in the North-Eastern region. While in Burgas the average property price is around 1,150 euros per square meter, in Stara Zagora, also a large economic center in the region, they drop to 1,000 euros per square meter. An apartment in Stara Zagora can be rented for about BGN 600 per month, and for Burgas the average rental price exceeds BGN 800 per month. In Sliven and Yambol, a property can be easily bought for 800-900 euros per square meter, and rents are on average under 500 BGN per month.
The South Central region rivals the Southwest
This is not a surprise, since the largest cities in our country - Plovdiv and Sofia - are located in the two regions, respectively. In the South Central region, however, is Haskovo district, where incomes are one of the lowest in Bulgaria. Thus, while the average property prices in Plovdiv are around 1,200 euros per square meter, in Haskovo they are around 700-750 euros per square meter, or a difference of around 500 euros. On the other hand, a look at the rental price statistics shows that in Plovdiv they are significantly more affordable than in Sofia - here you can easily find a two-room apartment for BGN 500-600 per month. In other, smaller cities, rents drop to BGN 350-400.
Sofia and the Southwest region have the highest prices
Sofia leads with an average price of over 1,300 euros per square meter and rents reaching in some neighborhoods to over 2,000 BGN per month for a two-room apartment. They remain very popular and well made houses around Sofia. Due to the fact that it is an agglomeration, the prices in Pernik are also not low - for an apartment in the city, on average, you need to prepare 1000 euros per square meter. However, rents are significantly lower - around BGN 300-400. Better developed, more desirable cities such as Blagoevgrad have prices of around 1000 euros per square meter for purchase and sale and nearly BGN 600 on average for renting a two-room apartment .
It thus becomes clear that in regions where there are significant differences in economic development between cities and there are no well-formed agglomerations, prices - both for sales and for rent - vary significantly, and an excellent example of this is the South Central region. In others, where the "gaps" are smaller, such as in the Southwest, the variations are also smaller.
You can find up-to-date information on rents and sales opportunities in different regions on Realistimo's real estate site, where offers are published by individuals, specialized agencies, and private and public bailiffs.
