Sofia apartments in 2011: many offers, few deals
The real estate specialists say that year 2011 will be another hard year for the properties market. They say that the offers for Sofia apartments will be a lot, but the buyers will be still very careful and uncertain to sign a deal, while the available Sofia apartments will not correspond to their liking. The only way out of that situation, according to the real estate agents, would be for the economics to stabilize and people to feel secure about their financial situation and their jobs. Once the first signals for improvement of the economics are seen, then the number of property deals will increase.
The current situation in the Sofia apartments market shows that there are buyers, who are generally looking for one-bedroom Sofia apartments or two-bedroom flats in Sofia, but it is unlikely that they will make a decision and act this year. There is a big group of buyers who have stable finances now, but feel uncertain about their future income and their jobs, which prevents them from taking a decision. Still, if compared to the property market in the rest of the country, Sofia real estate market is the strongest one, since here the unemployment rate is the lowest.
The offers for Sofia apartments at the same time are increasing in number. Despite the great percentage of newly-constructed apartments, there are flats in bad condition, set in areas that are not that popular. Since the building companies are no longer constructing mega complexes and are rather concentrated in the completion of their previous projects, real estate agents think that soon the demand and the supply will stabilize. Currently, there is a demand for Sofia apartments along the metro stations, except in the neighborhoods like “Iztok” for example, where the price of the apartments is still too high. Still, the number of deals is expected to be higher when compared to the previous year.
