New Sofia residential buildings are occupying the southern regions
Several modern residential buildings located in the southwest of the capital Sofia will be ready by the end of this year and are now at the stage of completion. These Sofia residential blocks are located in the districts of Borovo, Buxton and Gotse Delchev, along Bulgaria Blvd. and other parts of the southern regions. Besides residential Sofia apartments buildings, in this area of the capital are further positioned numerous office buildings and business centers.
Currently, the Sofia apartments in the nearby Malinova Valley district have increased with almost 7 % in the last months and has reached 700 Euros/sq.m., while the prices in Motopista district has gone up to 6 % per sq.m. or approximately 900 E/sq.m. The apartments in the residential districts of Iztok, Ivan Vazov and Dianabad has gone with 4 %, where the average prices of the luxury Sofia apartments vary from 900 to 1300 €/sq.m.
In other Sofia districts the offer prices of residential units keep on falling down and here should be mentioned the Simeonovo district where the average price is now 830 E/sq.m. Other districts with reduced prices of the Sofia apartments are Krasno Selo and Slatina, Lyulin 1, Buxton. For example, the apartment prices in Buxton are approximately 800 E/sq.m, while in Lyulin 1 district they are as low as 630 E/sq.m. In the Sofia neighborhoods of Mladost 1 and the Students Town there are no changes in the offer prices.
The real estate properties in Sofia with good location and attractive price can be sold for just a week, despite the crisis, but usually a home is sold within a few months, according to the brokers, as the owners do not wish to reduce the prices. Finally, when the owners are forced to cut prices to reasonable levels, they are successful in selling them. Brokers further say that the available lending of mortgages by the banks will reflect on the housing market in the capital. Apart from the need for home buyers decide to invest now because of the decreased home prices.
