Blog: Sofia Properties: why keep on investing

Sofia real estate market has been given mixed reviews in both the local and the foreign press, concerning the issue whether the buyers should keep on investing now or should stop until the global crisis is over. These questions occurred because of the high interest during the previous five years, when the investors were buying plenty of flats in the central Sofia, some being only kept but most of them being elegantly furnished and rented for accommodation of tourists coming to Sofia. During that period, numerous off-plan complexes have been planned and constructed and many off-plan Sofia apartments have been both at whatever price the developer was asking for. This strong but not concentrated investment lead to oversupply of one-bed and two-bed apartments in the country – a situation that is not valid for Sofia.



As a capital and the main city of the country, Sofia has attracted investors who had serious plans for the properties they bought. They have invested in city centre apartments with excellent locations, and organized their renovation with the help of local entrepreneurs. After that, the apartments have been nicely furnished and decorated, forming appealing city apartments for short-term stays that were given in the hands of hard-working property management and letting companies. Today, despite of the crisis, Sofia remains a sound property investment destination which attracts the largest part of the direct foreign investments. After all Sofia is among the few capitals that offer fine living in the centre, many walking-friendly zones, great choice of restaurants and cafes at low prices, and of course proximity to a ski area.



The Sofia districts that are attracting most of the investments are those areas that have good infrastructure and quick access to the public transport. The city is expanding in all directions and is renovating its centre and improving the facilities. It provides good value for each euro spent, if compared to the rest of the countries, good bargain prices for appealing central Sofia apartments, and a low rate tax, which is among of the lowest flat rates in the entire European Union. Sofia is attracting many people who come there from the other parts of the country, which also means demand for rental accommodation. Besides that, if the investor decides to move to Bulgaria for good, there are many job positions in various international business companies.

Category: Sofia Apartments rent and sale info
Tags: property market,central area,Serviced Sofia Apartment, rental market, rent apartment Sofia, real estate, property