Sofia apartments prices slow in decline
In the beginning of last year, the prices of Sofia apartments were slowly, but steadily going down. The sellers were eager to make deals and give discounts. In the autumn of 2010 the situation was different. At that time, the decline in the prices of the apartments in Sofia has slowed down and they finally showed stabilization, while the discounts were carefully considered by the owners. The buyers who have made something out of the situation in the first three quarters of the previous year were generally young families with stable but not high earnings, which could invest in a home in Sofia, if the price was right. These people managed to make most of the 12 % decline in the prices, if compared to the same period the previous year. The prognosis for the year ahead of us is that the Sofia real estate market will recover with slow and quite variable steps.
If in the last few years the usual question concerned the average price of the Sofia apartments, now the buyers are more interested in the type of the unit – studio, one-bedroom or two-bedroom and on the grounds of that estimate whether the property comes with good price or with too many common parts. This also serves them as good orientation on whether a certain Sofia apartment is the right one for their needs. Another factor, which was crucial as well for these Sofia property investors, concerns the discounts. The discounts vary and are usually around five percent from the initial price. Sometimes that discount goes to ten percent, but this is very rare. Whatever the discount offered, the buyers of Sofia apartments should know that the prices are finally stabilizing and they should make a good research on the offers before accepting the deal.
