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Encouraging start to 2014 for Bulgarian property market
The first three months of 2014 have shown a marked increase of activity in the Bulgarian property market, according to data gathered by BulgarianProperties.com. Figures for Q1 of 2014 show that levels of activity in the market are extremely high: residential property sales are up by 15% compared with the same period in 2013¹.
The residential districts of Vitosha and Mladost within the Bulgarian capital of Sofia are currently enjoying the greatest surge in the number of property sales, with properties selling for between 600 and 750 euros per square metre in these areas. Figures show that apartments across Sofia as a whole are worth an average of 730 euros per square metre and this value remains unchanged from 2013. Statistics also show that consumers most often buy apartments in Sofia for sums of up to €50,000, with more luxurious properties in the capital being sold for figures in excess of €120,000.
As sales of Bulgarian property have increased, so enquiries about Bulgarian property have also increased, rising by 30% over the last three months. Consumers are currently showing the most interest in apartments in the capital city of Sofia. Houses in Sofia are also proving to be popular, attracting the attention of 18% of prospective buyers of Bulgarian property. Such a dramatic increase in enquiries has led experts to believe that the Bulgarian property market will remain highly active in the coming months and throughout 2014.
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