Now is the time to buy apartments in Sofia
All the financial experts and even the deputy finance minister say that this is the moment to invest in real estate properties in Bulgaria and especially in the capital Sofia, since the prognosis alarm that in the middle of the year the prices will go up. The professional companies that work in the real estate business in Sofia say that the jump in the prices is to be expected in June or July and thus this is the advantageous moment to make such an investment in accommodation in Sofia. The minister even made a prognosis that once increased the prices of the Sofia apartment units will keep stable for the next decade to come.
A positive sign for this is also given by the local banks, which are slowly starting to offer loans again, a process that stabilizes and gives the young families and the investors the possibility to make a good start. At the same time, the real estate agents who work on the Sofia property market confirm that the interest towards quality residential Sofia apartments has increased. Most interest is provoked by the 1-bedroom apartments and the 2-bedroom apartments in Sofia, which are either used as a first family accommodation unit in Sofia or are being rented.
At the same time the difficulties that the building companies are still facing in terms of financing from the banks will delay their intentions for the implementation of the major projects they have for new Sofia housing. For that reason, if a family has some funds, it should look for a good apartment accommodation in Sofia since the good Sofia apartments will soon be sold and new Sofia apartment units of such quality will be hard to find. Due to the stabilization of the Sofia apartments sales prices and the construction costs, will have a good effect on the market and the overall investment activity.
The Sofia real estate market will change in such a way, as there will be a shortage of newly constructed housing of good quality. This will bring new phenomena as well, since the differences in the prices for the real estate of different quality will increase. The prognoses of the experts are that during the current 2010 year, the prices of the Sofia apartments will increase with ten per cent when compared to the prices from the previous year. The analysis further states that the price difference between the different properties will increase sharply in favor of the Sofia housing of good quality.
