Sofia apartments keep their prices

Despite the dark prognosis, Sofia apartments have stabilized their prices and there are many reasons for that. The prices of the building materials have not decreased but for certain items have event gone up, as new construction techniques have been introduced. The only material that costs less is the iron, but the faience, the tiles and the completion materials have gone up. Besides that, the people who have bought apartments in the past were and still are not willing to cheapen their properties and sell them for less money. At the same time, until now the bad credits are not that much as in the United States, which is acceptable for the Bulgarian banks.

The investors on the Sofia real estate market should know that the financial crisis is not over in Bulgaria and the situation on the labor market is worsening. On the other hand, the banks are not active and the financial institutions are still not willing to give mortgages to the local and the foreign buyers. An interesting fact to mention is that as a rule, during the winter months the prices of the properties are usually keeping their levels. The Sofia real estate market is now facing serious sellers and buyers, who want to make a deal and are serious in their intentions. They understand the market and are willing to make certain mutual concessions and get what they need. These players on the market are very motivated and are ready to sign deals with discounts of ten to twenty per cent. There are many building companies which are facing difficulties and these companies are willing to give good, reasonable prices.

Those who are willing to step on the Sofia market and buy a studio, a one-bed or a two-bed apartment should keep in mind that the prices will not keep on falling forever. As a result of the global situation, the quality of the construction will become better but the prices will stabilize and even go up once the financial crisis is over.