Off-plan apartment prices in Plovdiv are make up for with old building prices, Stroitelstvo Gradut Weekly announced.
Experts await activation of the retail real estate market in Bulgaria's third largest city as more than 87 000 sq m of retail place is under construction. However, this will not impact on the request for land from foreign investors.
Investment in the retail and industrial space will increase in coming years, according to Europolis' forecast for 2008.
The year started with a smooth increasing of new residential buildings prices - catching up with old buildings. Increasing numbers of people want to purchse a second home as an investment or would like to change their house or apartment for a bigger one.
The average off-plan apartment sale amount is 735 euro a sq m. In 2007 it was 592 euro per sq m. An off-plan apartment in a joint rule behind Trimontium hotel fetches the top price, going for 1270 euro a sq m.
In other market segments costs and supply will depend on tendencyes valid for the last year. One of them is the shopping mall building boom in Plovdiv, with most of the projects set for termination at the end of 2008 and the beginning of 2009. Experts await supply to leave behind demand and a plunge of prices in neighbourhoods such as Gagarin and Zaharna fabrika, where there is already oversupply of retail place.
The retail place average rental levels are at about 6-7 euro per sq m, while high street shops in Plovdiv keep the lead with 100 euro a sq m.