Buy your new home in Sofia for Christmas

It is believed that the apartment prices in the Bulgarian capital Sofia will drop with another 10 % by the end of this calendar year. These prognosis were given by several of the largest real estate and consulting companies, based on the fact that since the beginning of the year the apartments in several Sofia districts have dropped significantly. The greatest change comes with the aristocratic area around the Doctor’s Garden, where the prices have gone down with 30 % for the last twelve months and now one square meter can be purchased for approximately 1400 – 1500 Euros. The regions that are also affected by the crisis and have reduced their prices are the district of Ivan Vazov with 17 per cent, Lozenets and Iztok districts with 11 per cent. In some other regions, however including Vitosha district and Manastrirski Livadi area, the prices have remained unchanged or have been reduced only a little.

All real estate agents think that the prices of the Sofia properties will go up, a process which will start at the beginning of the new year. These predictions are made on the grounds that many people are looking to buy new homes, thanks to the low prices. There are a lot of potential buyers on the market, who have been investigating the property market in Sofia in the past few months and are now ready to take some concrete actions.

The global crises is being felt in the Sofia rental market as well, as only in the fist six months of the year, great number of the tenants have changed their lodgings in search for a better and cheaper apartments for renting. The available apartments and offices in Sofia are located in the districts far from the centre, as the greatest demand is for offices and homes close to the centre and in the districts with good infrastructure. These Sofia properties are being rented by foreign companies and their experts who are outsourcing their business to the capital Sofia.