Real estate sales in Stara Zagora stage unexpected upsurge
Stara Zagora's strategic location and good infrastructure as well as the growth of business and energy sector, rank the town among Bulgaria's five front-runners in terms of construction growth rates and real estate sale and rent prices. Estate prices in Stara Zagora recorded a boom in November. The prices have almost doubled in comparison to last year's levels.According to Sergei Kozhin, owner of Evroimoti-Kozhin real estate agency, demand far outstrips supply. As a result of the recent remarkable demand for both old and new construction type units, price differentials between the two kinds of residential estate have almost disappeared. Flats in the most prestigious neighbourhoods sell at 700 euro a sq m. Off-plan offers start from 500-550 euro a sq m. Well-maintained pre-fabs have also recorded an increase in prices - some of them ask as much as 500 euro a sq m. Purchases are financed through loans and cash payments.
Rentals have also exhibited an interesting trend. Company headquarters, based in the vicinity of Maritsa Iztok power plant, have established rigid rules and requirements concerning luxury apartments. Owners who meet all clients' demands, including the provision of luxury furniture, are now able to conclude long-term rental agreements at prices that reach 400-500 euro a month. Retail rentals have also registered an increase. Units situated in the town's centre rent at not less than 1000 euro a sq m and enjoy healthy demand.
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