Home Prices in Sliven Rose Nearly 14% Last Year

Home Prices in Sliven Rose Nearly 14% Last Year

Home prices in the southern Bulgarian town of Sliven rose by nearly 14% last year, according to Address Real Estate.

At the beginning of 2007 availability was very limited as most sellers preferred to wait and see what the impact of the EU membership could bring.

In January the average price per square meter stood at 320 euros, which grew to 390 euros by end of the year. Existing home prices added 27% y/y.

New office buildings and commercial centers appeared. Demand is higher in the central areas, but the lower prices in the suburbs are attracting more and more buyers.

In Q1 prices in the downtown ranged between 420 and 450 euros/m2, and in Q4 the figures reached 480 – 500 euros/m2.

Availability of land plots suitable for construction is highest near the Burgas-Sofia motorway, as well as by the new Sliven-Yambol motorway.

About half of home purchases last year were financed by credit. The average loan size varies between 20,000 and 50,000 euros.

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