30 percent drop in the price of the Sofia studio apartments
The financial crises collapsed the prices of the studio apartments in the south-western districts of Sofia. It is a fact that in the last one year, the price of these apartments has dropped down with more than 30 % and the price per sq.m has fallen down to less than 900 Eoros/sq.m. For example, an apartment in Pavlovo neighbourhood has went down with approximately 40 %. The offers for studio apartments from the nearby district of Buxton are not many and they go in the price range from 37 000 Euros to 42 000 Euros, while these in Borovo are offered from 36 000 Euros to 38 Euros. At the same time, the prices of the studio apartments in the district of Ovcha Kupel go even lower from 27 000 Euros to 42 000 Euros. Actually, the prices have dropped with almost one third. Another district that has to be mentioned in Vitosha, where the offers of the studio apartments start from 35 000 Euros to 50 000 Euros.
The advise of the leading property brokers advise the purchase of a Sofia apartment to be done by the end of March. Until that moment the prices per square meter will be most profitable, as the property prices have almost reached the bottom and it will never again be that cheap to purchase a property in Bulgaria. In the current moment, there are numerous proposals of modern Sofia apartments, mostly located in the neighbourhoods of Manastrirski Livadi, Motopista, Strelbiste. Despite the reduced prices per sq.m, the apartment s in these Sofia city areas are now offered with very attractive bonuses as well, including furnishing packages, garages, etc. The properties in the elite districts of Sofia are also affected by the collapse of the market. This includes the posh neighbourhood of Ivan Vazov, where the prices go from 78 000 Euros to 250 000 Euros.