Sofia apartments with stabilized prices
In the beginning of March this year a certain trend of stability was shown in the property prices, followed by a slight increase in the price of the finest homes in the good neighborhoods of Sofia, known for its excellent reputation. Despite the fact that the real estate market remains quiet and the buyers are hesitant, the house prices in Sofia have been permanently stabilized and slightly increase. This trend has its prerequisites, one of which is the sense of improving of the situation and the sense that the financial crisis will soon be over, which was imposed by banks. Because of this, the number of sales of apartments in Sofia has increased, including the contracts for rent.
The stabilization of prices could be seen mainly in the good neighborhoods of Sofia, where the demand for apartments with one or two bedrooms has always been stable. In some of these areas there is even a slight increase in the prices, which happens for the first time since the start of the crisis. The average price per square meter is around 700-750 Euro, and this is the highest average price in the country, followed by the prices in Varna and Burgas. The most sought after remain the one bedroom apartments, followed by the apartments with two bedrooms. The interest towards the studio apartments is weak. Most of the participants in the real estate deals are on the both sides of the action – at first they were in the role of sellers trying to sell their smaller property in Sofia or a property in another city, and then they are in the role of buyers when purchasing an apartment in the capital. There is also a solid number of people who want to change the neighborhood for a better one or search greater proximity to their workplace or their relatives.
Nearly half of the buyers of apartments in Sofia are young people for whom this is their first own home. They are in the age 25-35 years, who have a small budget and focus their attention on the two-bedroom apartments in the price range from 45 to 65,000 Euro. Of course, they also take bank loans. These buyers are often civil servants, but also employees of private companies with good position and stability such as finances and information technology. Among the foreign buyers who are most active on the market are Russians, who however are focused mainly on the properties along the seaside.
