Latest News

02.09.2011 Bulgarian Luxury Property Segment Is Turning Into a Preferred Investment Tool

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

View our LUXURY SELECTION


  Read more news
LATEST REGIONAL NEWS
The First "Bile Fest" - Herbs Dedicated Festival Will Be Held on the St. Anastasia Island in Bourgas

12/June/2019
https://www.novinite.com

The island of Saint Anastasia will welcome guests with folk rituals for health and fertility in the first edition of the "Bile Fest", a heraldic festival, announced Burgas Municipality.

More than 50 participants will take part in the event with herbs and healthy foods, curative extracts and ointments, and will show the authentic ways of preparing them.

The accompanyin... read more

Comments from clients
We would like to thank Sergey Pelovski of Bulgarian Properties for his help and perseverance during ...
When you buy property abroad, the key is trust. Definitely Bulgarian Properties and their great team ...
This is the second time I cooperate with Bulgarian Properties Company in buying real Estate Property ...
List your property with us, no marketing fees!
View the best properties in the top Bulgarian ski resorts!
Properties on the Bulgarian Black Sea Coast - top selection!
Find out how we can help you sell your property
Read our market analyses and forecasts!
Latest News
Sofia Hosts the international Meeting of Development Banks From the Balkans and Central and Eastern Europe

18/June/2019
novinite.com

Today, Sofia hosts the international meeting of development banks from the Balkans and Central and Eastern Europe.

The event is organized by the Bulgarian Development Bank.

The meeting is linked to the new investment program of the European Union - InvestEU. It is based on the strategic investment fund of the so-called Juncker Plan, reports pariteni.bg.

... read more

LATEST REGIONAL NEWS
European Night of Museums - Sofia 2019

15/May/2019
novinite.com

For the fifteenth consecutive year on 18 May Sofia will mark the European Museum Night.

More than 50 galleries and museums have prepared an interesting program including exhibitions, concerts, workshops, screenings and various art events dedicated to the event.

Free entry.

European Museum Night - Sofia 2019 is organized by the French Institute in Bulgar... read more

DID YOU KNOW?
Almost 12 million Passengers Have Passed Through Bulgarian Airports in 2018

26/March/2019
novinite.com

2018 was a successful year for Bulgarian aviation, characterized by consolidation of market positions and addition of production capacities on the other. This was reported by the chairman of the Association of Bulgarian Airlines Svetoslav Stanulov during the annual report of the association for the s... read more