The properties on the focus in year 2011
In spite of the global crisis, the real estate market in Bulgaria during the past 2011 year was active, although the number of the deals signed was not as high as before. A clear tendency emerged, namely that the most sought after apartments in Sofia are placed in new brick buildings that have with one bedroom. The buyers were willing to pay around 50 000 Euros for this type of properties. It turns out however that in order to find the right apartment in Sofia, buyers needed more than four months spent on viewings. The expectations of the participants in the real estate market are for decline in the housing prices in the range between 10 and 20%.
When the financing is concerned, it should be stated that more than half of the deals are signed with a mortgage or other bank credit. Those who apply for a mortage, qualify for the specific rloan equirements. Before entering the bank branch however, buyers spend time to be acquainted with the detailed information on loans that the banks present on their websites. Part of the buyers is also seeking advice from the credit consultants, but in general buyers end up looking for a credit with transparent conditions and good perspectives.
The tendency last year, which is expected to be maintained this year, was for less interest in the prefab apartments and the off-plan complexes in the capital. When the residential area is concerned, the greatest demand was for two bedroom apartments, followed by the three-bedroom apartments in Sofia. Among the requirements of the buyers are convenient location in an area with good infrastructure, quality of construction and completion, good distribution of the interior space. Because of the higher criteria, the choice of property these days takes more time. There is strong interest in the properties in the center and in the neighborhoods "Borovo", "Ivan Vazov", and "Iztok". Other areas that are preferred by the buyers who want to invest in an apartment in Sofia and by those who want to rent a property are the districts of "Gotse Delchev", "Dianabad", "Geo Milev", "Mladost 1".
