A new type of property has started to be built in our country. This is clear from the latest analysis of the consulting company Colliers on the development of the real estate market in Bulgaria.
“Given the trends in Central and Eastern Europe, especially in Poland and the Czech Republic, the development of the built-to-rent investment market is being followed with interest.”
A house in the countryside is now worth as much as a small apartment in a big city
Looking for houses with electricity and sewer that need almost no repairs
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By definition, Build to Rent (BtR) is a term for housing built specifically for rental, usually long term. Management is professional and is carried out by the owner or operator of the building.
“This class of assets is also entering Bulgaria, the first projects are already a fact. In the medium term, this still undeveloped market segment has good potential for development.” noted by Colliers.
What are the property prices in our country?
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The state leases fields in Dobruja. What are the starting auction prices?
The lowest prices are in Tervel and Kavarna municipalities
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It is also clear from the analysis that the average sales prices of medium-high and high-end housing remain stable in the first six months of 2022. Thus, a two-bedroom apartment costs on average between 180,000 – 230,000 euros; three-bedroom apartment – between 240,000 and 300,000 euros; terraced house – between 320,000 and 450,000 euros; with a detached house – over 486,000 euros.
The average rental prices of medium-high and high-end housing registered an increase of 8%, which was due to the higher levels of demand. Relocation of company operations from Russia and Belarus, as well as withdrawal of employees from Ukraine, are the main reason for the activity of the rental market in the second quarter of 2022. Average rental levels for a two-bedroom apartment are in the range of 1,000 – 1,300 euros; per apartment with three bedrooms: 1400 – 1700 euros; and for a house – over 2150 euros.
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Agricultural land continues to rise in price, this is how much a hectare of land costs in Targovishtko
This is 7.5 percent more than the previous year
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Colliers also report that the difference between the offer and the purchase price has melted. Increasingly, an additional discount from the offer price is not provided.
“Average rental prices in the segment will maintain stable positions, and sales price growth will slow down”the real estate market analysts also predict.
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