Favourite properties (0)
Saved searches
Selected for you
Sign out

Mihail Chobanov and Magdalena Tosheva on the Sunday morning block of bTV


On February 13, 2022, Mihail Chobanov, founder and owner of BULGARIAN PROPERTIES and Magdalena Tosheva - senior estate agent in the company, participated in a report on the real estate market in Bulgaria in the morning block of the popular TV channel bTV.

Radiana Bojikova, reporter from bTV, made a thorough review of the housing market with the help of Mihail Chobanov and Magdalena Tosheva, an urban planner from Sofia Plan, construction entrepreneurs from Plovdiv, a lecturer at the University of Economics in Varna, the chief architect of Varna and 📊 data from BULGARIAN PROPERTIES and NSI.

The review highlighted the data on the new construction from the National Statistic Institute, which shows that 2021 is a record year for housing construction. The data show that there is more than 15% growth compared to 2020. The highest growth is at the end of 2021 compared to the end of 2020.

The increase in the completed residential buildings is over 43%. In one year, their number has jumped from 928 to 1329. The number of homes in new buildings is growing compared to older ones - by nearly 50%.

There are three cities with record growth in housing construction - Sofia, Plovdiv and Varna.

In addition to the construction growth, an increase in housing prices was also reported. For Sofia, the growth is 10%, and the price depends on the specific property, where it is located, whether it is new construction which is currently most in demand. Growth continues this year.

The data of BULGARIAN PROPERTIES show that the cheapest neighborhoods in the capital of Sofia are Lyulin, Nadejda, Obelya and Tolstoy, and the most expensive are the center, Lozenets, Ivan Vazov, Oborishte and Krasotva Vada, which is one of the most sought after areas.

The pandemic has also changed demand. Buyers are now looking for more 2-bed apartments, Southern neighborhoods are preferred. They are now more inclined to give more money for larger spaces, so that they have a place to isolate, if needed. The small 3-bed apartments are also in high demand, as there is an additional separate room that can be used as a home office.

What are the reasons for the rise in prices and the boom in new construction? Experts explain:

A record in transaction volume and demand, which definitely exceeds supply. This is how Mihail Chobanov, property developer and owner of BULGARIAN PROPERTIES, summarizes 2021.

'We have reached the levels from the previous boom back in 2008, which was very big and bubbled the market for several reasons - the financial crisis, the huge expectations of investors and the disappearance of foreign buyers from the market. While now the situation is very different. The market is more mature and driven by Bulgarian developers and clients', sums up Chobanov.

'Corona virus is just one of the growth factors. Others are negative interest rates in banks, extremely low levels of interest rates on mortgages, inflation and the traditional value of Bulgarians to own a home. Whatever the yield on real estate, it will not be negative. I think in 2022 we will have a positive market trend, whether in terms of prices or supply and sales', he added.

According to the estate agent Magdalena Tosheva, the Bulgarian buyer is inclined to make deals for housing even before the start of their construction. 'People prefer this because they have a bigger choice. The most sought after are the southern districts of Sofia - Krastova Vada, Malinova Dolina, Vitosha, Studentski grad.'

She showed the viewers of bTV a 2-bed apartment of about 127 sq.m. in the hit complex Vitosha View in Krastova Vada district at a price of about 255,000 euros. 'For comparison, in the most desirable neighborhoods, for projects that are now starting, prices range between 1,300 and 1,400 euros / sq.m.'

Watch the vide here (in Bulgarian):

See the 2-bed apartment in Vitosha View seen on TV and call Magi on 📱 +359 882 817 458 for more info and viewings.

Check out the new phases of complex Vitosha View

View our offers in Sofia, Plovdiv and Varna.

  Read more news

Euphoria Club Hotel & Resort - your paradise in Borovets!
Fully furnished studios, 1-bedroom apartments and maisonettes in a unique complex in Borovets. All-year-round complex with all needed facilities for your comfortable stay - lobby bar, reception, bar and restaurant, outdoor and indoor pool, SPA center, underground parking and many more. Choose your holiday home here! No buyer's commission! Suitable for rental income.
See More
Central Park - your New York in Sofia!
Homes for sale in one of the largest new construction developments in Sofia!

A unique gated complex recreating the style and atmosphere of New York's Central Park. Modern buildings, space, greenery and breathtaking views! A future icon of the Bulgarian capital that will bring a new standard for quality of life. Choose your home now - big choice and attractive prices!
See More

More News

Company news
BULGARIAN PROPERTIES took part in the Sound of Money forum

BULGARIAN PROPERTIES CEO Polina Stoykova was a speaker at the panel "The Future of the Real Estate Sector" at the "Sound of Money" forum.

The forum is one of the largest economic events in Bulgaria. It took place on June 6, 2023, at the Sofia Event Center and brought together leading experts from international, European, and local institutions, as well as representativ...

07 June, 2023
Company news

It is already June and we are confidently heading towards the end of the first half of this year!

After the festive May, in which we had more holidays and more frequent interruptions in the work process, we expect increased activity in the new month and new successful deals for our customers.

They will be taken care of by the entire BULGARIAN PROPERTIES team, which ha...

02 June, 2023
latest news
Key Extras for Your Beach Holiday Home

With summer season already here, it's the perfect time to start planning your beach getaway along the picturesque Black Sea coast in Bulgaria. As you embark on the journey of finding your dream beach holiday home, there are key extras that can elevate your experience and make your stay truly exceptional.

From magnificent beach views to convenient amenities, BULGARIAN ...

29 May, 2023
Company news

The warm months are here, and the real estate market is in great shape! Proof of this is the winners in our monthly ranking - colleagues from offices across the country who specialize in selling various types of properties - from new constructions to rural and vacation homes, plots of land, and commercial properties. All of them managed to achieve amazing results and make April better than last ye...

03 May, 2023