Sofia apartments that provoke the interest
Property investors know well what to search for, especially when their intention is to make profit in the future. Thus, foreign and local investors are looking for newly built apartments with one or two bedrooms in Sofia that come in the price range of 650 – 900 Euro/sq.m. and a size of 70 to 100 sq.m. Even if in year 2012 there was a drop in the rental levels of Sofia apartments, many people are still considering the purchase of an apartment as the best long-term solution for them. These are people with good professions and stable income, as well as families with kids who have found the area they like and do not wish to move from one neighborhood to another or from one rental apartment to the next. According to the real estate agents, the most sought after apartments are the ones between 70 and 100 sq.m. of size, which usually means apartments with one or with two bedrooms.
The Sofia apartments that keep the attention of the property buyers are the ones located in “Lozenets” and “Ivan Vazov” Districts, which however come with prices between 900 and 1000 Euros. Another interesting district is “Manastirski Livadi”, where the price varies from 750 to 900 Euro/sq.m. Still, there are areas in the city of Sofia, where the newly built apartments come at a price as low as 650 Euro per sq.m. In general, as the experts point out, Sofia has plenty of new complexes and buildings and the price depends on the location where the Sofia apartment is based. In January, the prices of the two-bedroom Sofia apartments have been slightly dropping, reaching the price levels of the one-bedroom apartments. This offers a very good opportunity to the buyers, who can now afford to purchase a bigger property at almost the same price. For example, there is a two-bedroom apartment in a pane building in the central zone of the capital, which could be purchased for the incredible price of 41 000 Euros. At the same time, the one-bedroom apartments that are offered for sale remain at the prices they were presented. The two-level apartments and the large apartments face a reduction of their prices with 20 to 30 %.
The prognoses of leading European institutions and real estate companies are for a gradual stabilization of the economic factors during the current year 2103, which will lead to a recovery of the property market in all countries, including Bulgaria and especially in their capitals. This is very good news since the property markets in Europe were facing difficult economic conditions in the year of 2012 due to the fears of disintegration of the European Union in the first half of the year and shrinking gross domestic production during the entire year. That is why now the prognoses that the construction industry is facing are quite promising. According to the experts, Bulgaria will go out of the economic crises in the second half of 2014.