Blog: Sofia property market buyers and tenants

According to the numerous Sofia market factors are formed two main groups of buyers. The first one includes people aged between 25 and 30 who require a mortgage to buy their Sofia apartment. The other group includes investment players that are aged between 40-50 years. The return of this speculative interest on the property market, is a good sign for the future of the real estate market, especially if it stabilizes over time. The increase in the number of these transactions will provide the necessary dynamics of the sector.



Among the first home buyers in Sofia City are representatives of the companies who are occupied in the information technology sector, where incomes remain solid despite the crisis, and bank employees who have access to preferential financing arrangements. Deals are also made by students, who become happy Sofia homeowners with the money left to them by their parents. Bulgarians who are working abroad are now making tentative steps in our market, attracted by the lower property prices and encouraged by the first signs that the crisis will be soon over, which could be seen in Europe.



The decline in the Sofia rental market remains strong during the period and the contracts signed during that time are concluded at very low levels. For example, a Sofia apartment unit of about 75 sq.m set in the city center is rented for the sum of 210 Euro/per month, while a low-quality property of 50 sq.m near the Doctors Garden pay only 100 Euro/per month. Negotiations concerning Sofia apartment rental were made during all months in 2010 until now. Those landlords who tried to retain the original prices of their Sofia properties that did not met the expectations of the tenants have failed to conclude a transaction and their homes are still empty.

 

Category: Sofia Apartments rent and sale info
Tags: central area,Sofia Apartments,Sofia Apartment, rental market, rent apartment Sofia, rent apartment, real estate, one bedroom, downtown, apartment for rent