Sofia apartments in the first three months of year 2010
The real estate companies confirm that the first three months of the current year were quite successful for the Sofia apartments market. The number of the property sales during these three months remained unchanged and very similar to those in the second half of the previous year. It would be fair to say that in March the market show even higher activity, while the financial aspects on which these deals where signed on the basis of the bargain prices and were thus made in the luxurious and the cheap segments. In other words, buyers are coming back on the market and are signing deals for properties that have good prices.
The average prices of the sold Sofia apartments goes around one thousand euros per sq.m. and are being stable. The expectations are that there will be a certain decrease in the prices of some properties in Sofia, which are with bad location and need a lot of repair. The Sofia rental deals are also increasing in number, though the new deals are made at lower prices – sometimes with as much as 30 % lower.
The prices of the Sofia apartments turn these units into a true bargain deals. The average decrease is approximately 25 %, which is estimated from the beginning of the crisis. For example, the neighborhoods that provoke most of the interest have the following percentages of price decrease. These are the central zone, Borovo, Beli Brezi and Buxton with their 25 %, Vitosha, Izgrev and Dragalevtsi districts with 17 %, Lozenets and Manastirski Livadi with their 22 % and the Students Town with its 15 % decrease.