Commercial estates in Veliko Tarnovo reached record price – 6000 Euro per sq.m. That was annonced by the local newspaper “Yantra Today”. The deal was for a shop with a total cost of the purchase of almost 900 000 Euro.
The price is a record for Veliko Tarnovo property market and still amazes real estate agents. This figure can be compared only to prices in Sofia’s “Lozenets” and the centres of Varna and Bourgas.
The main reason for the extreme price is said to be the lack of business areas. Veliko Tarnovo has limited options for commercial properties since there is only one main shopping street. That is way most investors prefer buying shops in the residential complexes rather than esattes located on Gabrovski street ad the Bulgaria boulevard.
Demand is signifficantly high, but the supply of office and commercial realty is very low, as owners make a good profit from letting their properties for rent. Brokers admit that it is virtually impossible to find any business space on the main street of Veliko Tarnovo.
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