On demand: Sofia rental apartments near the metro stations
A recent analysis showed that there is a serious interest towards the apartments located near the new and existent metro station of the Sofia subway network. This is valid for the Sofia apartments sale and for the rental prices as well. The real estate agents are trying to control that tendency imposed by the property owners. They confirm that currently the property market is still dominated by those who supply the apartments and the demand is still slow. That is why the real estate agents consider that increase in the Sofia apartment’s prices as unreasonable and doomed to lack of success. Usually the rental and sale process for Sofia apartments goes without bargaining over the price only if the new owner or tenant has liked the property so much that one wants that apartment in Sofia badly and does not wish to reduce the price and risk the property to be sold or rented to someone else. In all general cases, however, the owner makes a reduction between 5 to 10 per cent of the previously set offer.
With the new line of the metro in the capital, many people are now looking for apartments in Sofia that are placed near one of the many new and already existing subway stations. However, the two main factors that play role in picking a certain property in Sofia are the location or region and the price. The general total area of the newly built apartments in Sofia is approximately 80 sq.m and the total number of buildings that have been put into operation in Sofia in 2012 are 80 buildings with 120 apartments. Due to the crises, investors and property buyers are now looking for finished apartments for a price of approximately 800 Euros per sq.m. This means that in some of the more prestige neighborhoods the price ranks between 1100 and 1200 Euro/sq.m, while in the districts that are not that popular the price goes to 600-620 Euro/sq.m.
The spacious apartments that are bought for investment purposes are usually located in the center with the aim of being rented to well to do tenants and tourists. Investors who are looking for bigger apartments have certain requirements and they include larger premises, two or more bedrooms, as well as various extras. The larger apartments in Sofia however, for example the two-bedroom Sofia apartments, require more money for expenses and bills, taxes, etc. Many such spacious apartments are waiting for buyers in the districts of Lozenets, Vitosha, Oboroste, Dianabad, Buxton, Geo Milev. The serious investors with stable financial situation are looking for Sofia apartments in the old and well established neighborhoods that are in close proximity to the city center, for example the Doctor’s Garden and Oboriste, Lozenets and Ivan Vazov districts. The characteristics that matter are the good location, the peaceful area, the excellent infrastructure and the proximity to various facilities, bank institutions, administrative centers, shopping zones, as well as entertainment venues.