Bulgarian Luxury Property Segment Is Turning Into a Preferred Investment Tool

2011-09-02   |  Republica newspsper, vol. 321, 01.09.11, excerpt

According to real estate agents the mass withdrawal from investments in shares and the high inflation are turning the luxury property segment in Bulgaria into one of the preferred investment instruments. The most important criterion for the well-off is the prestige of the location. For Sofia these are houses and apartments in the Doktorska Gradina (Doctors’ Garden) area and in the quarters of Boyana and Dragalevtsi. After that come the space, the quality, the view, the professional design of the exterior and the interior, the parking space, the maintenance of the property, the neighbours, the environment and the infrastructure in the area.

At present there is a wider choice of luxury properties and clients can make use of the situation. Buyers can negotiate a better price. If up to now the client was looking for a luxury apartment now they see that sometimes they can buy a house for the same budget. The main buyers are still Bulgarians living and working in Bulgaria. However, the lower prices and the wide choice of elite real estate gradually expand the profile of potential buyers as there are also middle-class clients thinking of buying a luxury property, real estate agents comment.

Svetoslav Drumev, regional Director of elite real estate agency LUXIMOTI - subsidiary of BULGARIAN PROPERTIES, commented the prestige property market for Republica newspaper. He explicitly stated that there are people with savings spending them in a sensible manner. According to him more and more young Bulgarians – between the age of 30 and 45, with strong positions in the community, are the main buyers of luxurious real estate.

Read the interview with Svetoslav Drumev:

- Mr. Drumev, what is the situation on the Bulgarian luxury property market at the moment?
- The elite property segment was the real estate segment that was least influenced by the crisis. The truth is that in Bulgaria there are people with considerable savings and they spend them in a sensible manner. We are talking about truly high quality properties – in terms of location, infrastructure, environment, everything.

- Where can one find the most luxurious properties in Bulgaria?
- In the capital Sofia and in Varna, as well as around the bigger cities, but I can comment only about the capital Sofia.

- What kind of people look for luxury properties?
- Most are Bulgarians, young people between the age of 30 and 45 years, with strong positions in the community, with modern thinking. After all, we are also talking about a specific lifestyle here.

- What is the focus of the buyers at the moment?
- At the moment the focus is shifting to spacious apartments in new gated developments offering amenities like a gym, a swimming pool, a restaurant. The area of the apartments is about 250-300 sq.m. They are turning to such apartments because detached houses are quite expensive and not many people can afford them.

Browse through our elite properties in Sofia


  Read more news

Properties in Bansko
Buy your own property in the top ski resort of Bansko! An all-year-round resort suitable for winter and summer tourism with the best prices in Europe! Prices starting from as low as 10,000 Euros!
See More
Borovets Gardens 2 - the second phase of the popular complex
Feel at home in Borovets! Buy your own vacation apartment in one of the best rated complexes in this top mountain resort. Progressing construction with planned completion in December 2020 for the new winter season. A wide range of available apartments at attractive prices, suitable for rental income.
See More

More News

latest news
Official non-working day in Bulgaria

We would like to inform our clients and partners that 22nd September is a National Holiday in Bulgaria in celebration of the country Independence and 23th September will be an official non-working day.

On this day our offices will be closed. We will be back on Tuesday, 24th September.

Please be advised that during the official holiday the banks, the notary offices a...

19 September, 2019
Company news

Hello, September!

The new season has begun and we look forward to seeing you at our offices around the country to fulfill all your real estate dreams and to help you buy, sell or rent property easily and securely, with the highest protection of your interests!

Let's see who our AGENTS OF SEPTEMBER are that we recommend with two hands!

All of them deserv...

04 September, 2019
latest news
Bulgaria Air Launches Joint Flights to Caribbean, Seychelles and Maldives with German Condor

Bulgaria Air starts offering flights to some of the most exotic destinations in the world. The Bulgarian airline has signed an agreement with the German airline Condor, part of the Thomas Cook Group, allowing passengers from Sofia, Varna and Burgas to travel to exotics such as the Caribbean, Seychelles, Mauritius, Maldives and dozens of destinations in Malaysia, with convenient connections via Fra...

02 September, 2019
latest news
Foreign tourists choose to spend summer vacation in Bulgarian mountains

Whether because of the summer heat or the favorable conditions for mountain tourism, the number of foreigners who chose to spend their summer vacations in Bulgarian mountains is on the rise. A popular place is the mountain town of Elena, which attracts with its tranquility and authentic Bulgarian houses that have preserved the spirit of the National Revival period. Along with the Bulgarian tourist...

30 August, 2019


Find a property with the biggest available choice
Choose what marketing communication you would like from us: