Homes for 40 000 Euros on demand
To find and manage to buy a home in a large city such as the capital Sofia for a sum as low as 40 000 Euros and even lower, is quite a challenge. This price is quite impossible for a brand new brick-built apartment in a decent neighborhood or a renovated panel apartment in a well-kept residential building. Despite that, the buyers are quite optimistic and believe they will be successful in finding such a home. It is a fact that most deals that were concluded in year 2009 are in the price levels of 40 to 60 000 Euros and the tendency remains the same.
The reason for changing the price focus is due to the decreased income of the purchasers, the reduced purchasing power and the insufficient mortgage lending by the banks. The real estate agents divided the clients for Sofia apartments into several types. The first one is concentrated on two-bedroom apartments with price of up to 80 000 Euros in the good neighborhoods like Borovo, Mladost, Gotce Delchev, etc. Sometimes these clients buy one-bedroom apartments as a temporary solution to their housing problem, but tend to negotiate a lot for them.
There is yet another type of clients who are looking for Sofia apartments in the price range of 30 – 50 000 Euros, which are based on the western and northern neighborhoods of the city. As a contrary to these clients, there are buyers who can afford to pay above 100 000 Euros and for such amounts they purchase unique houses with great location and perfect condition.
