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The city of Plovdiv now occupies second place in terms of the number of property deals, according to a chart compiled by the Varna-based Foros real estate agency. The number of transactions in Bulgaria's second largest city reached 20 000, versus 18 000 in Varna, where the market is considered much more dynamic and the number of deals is usually above the country's average.
The combined area of transacted properties in Plovdiv topped 100 000 sq m. That figure is expected to double in 2008, Dnevnik daily reported on March 14.
Plovdiv also outpaced all other big cities in terms of downtown property prices with a 61 per cent increase last year, according to Foros' report. Rent rates in the city rose 18 per cent on average versus five per cent for Sofia and Varna.
Foros forecasts a 15 per cent hike for Plovdiv property prices in 2008. Plovdiv office property prices added 32.2 per cent in 2007, which compares with 28 per cent for Sofia. Around 55 000 sq m of retail space was placed on the Plovdiv market last year with another 300 000 sq m scheduled for delivery this year.
Another town that would see strong growth would be Rousse, Dobromir Ganev, Foros general manager was quoted as saying by the daily. The trend of Romanians buying out industrial and holiday properties in the Rousse and Black Sea region would continue in 2008, he said. Foros signed a number of transactions with agricultural land and industrial plots with Romanian residents.
In a report on Rousse's property market, Foros said prices in the Danubian city have been increasing 30 per cent on average year-on-year. Rousse pre-fab apartments registered a 39.5 per cent price hike in 2007, while old-brick apartments prices added 29 per cent in value. The banks' activity in terms of mortgages and home loans, the tourists flows, the population's increasing income and the Romanians' activity on the property market are among the factors that drove the Rousse's market development, Ganev said, as quoted by Dnevnik.