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The managing director of BULGARIAN PROPERTIES on Bloomberg TV with a review of the latest trends
The real estate market responded extremely fast to the increased demand and construction contractors quickly stepped in and provided a number of new residential developments in Sofia. This is what the Managing Director of BULGARIAN PROPERTIES Polina Stoykova said on Bloomberg TV Bulgaria's evening broadcast "In Development" with the journalist Veronika Denizova.
After the crisis, the biggest number of issued new building permits in Sofia for residential buildings was in the second quarter of 2017, she added.
"They exceeded 200 units which actually went into the market as an output in the 3rd quarter when we saw a variety of new developments in supply - something that the buyers are seeking the most. "
According to her, at this point, it is observed that the current demand absorbs the supply at a normal pace and even the buyers are beginning to slow down in making decisions because of the larger choice.
"So, this has led to a market equilibrium at an average price of about EUR 1,000 and the rise in property prices in the Bulgarian capital has now slowed down."
See the full material and video on Bloomberg TV website
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