Property prices in Veliko Turnovo will continue their upward trend but at a slower and more balanced pace, according to Teodora Dimova from ERA real estate agency.
The number of property deals in Bulgaria's old capital increased by 21 per cent on 2006, ERA data shows.
At the beginning of 2007 an apartment in Veliko Turnovo had been offered for 475 euro a sq m. In December 2007 the average sale price reached 775 euro a sq m.
Prices of single family houses in Veliko Turnovo's Old Town have also risen. Prices are in the 70 000 – 75 000 euro range. Rural properties in the region enjoyed great interest last year from foreign buyers in Spain, Denmark, the Netherlands and, recently, Russia.
Dimova expects greater segmentation of the property market in Veliko Turnovo this year. Important factors influencing the future development of the region's market will be the quality of construction, location and infrastructure.
Experts predict a dynamic development of the secondary property market in Veliko Turnovo. Estates bought two to three years ago at low prices will re-enter the market at higher prices.
