Call
Send Email
Messenger
WhatsApp
Prices in Sofia increase with 4% in Q1 2020
High activity during the first 3 months of the year and acceleration of the price growth to about 4% on an annual basis. This is how the real estate market in the Bulgarian capital of Sofia developed until mid-March, when the state of emergency was introduced and many economic activities where put on hold.
Average Prices and Annual Change
In the first quarter of 2020 price rises accelerated and the average price in Sofia exceeded the 1,100 €/sq.m. barrier, around which it gravitated since the end of 2017.
BULGARIAN PROPERTIES figures show an average price of residential property in Sofia based on real deals of 1,120 €/sq.m. compared to 1,080 €/sq.m. for the first quarter of 2019, an increase of about 4% yoy. There is an increase of 2.2% compared to the last months of 2019, when the apartments in Sofia sold for an average of 1,095 €/sq.m.
The average total selling price of purchased apartments also increased to 101,130 euros for 2020 from 90,960 euros in early 2019 and 95,230 euros in the last quarter of 2019. This is a net increase of about 10,000 euros on average for an apartment in Sofia compared to the same period of 2019.
Sales Volume
Transactions were concluded actively throughout the quarter, literally until the state of emergency was declared. Data from BULGARIAN PROPERTIES on the basis of newly concluded transactions show that the volume of realized transactions is kept at similar levels as in the first months of 2019. Most of these transactions are progressing and the there is only a minimal amount of cancelled deals.
Read the full report here
Check our top offers in Sofia
Read more news
More News
The real estate market in Bulgaria's major cities is calmer than expected, just months before Bulgaria joins the eurozone. The euphoria and large sales volume remained in the first half of the year, until the decision to accept the country into the eurozone. This was commented on by Polina Stoykova MRICS, Managing Director and co-owner of the real estate agency Bulgarian Properties, during the Rea...
Twenty years ago, Bulgaria became one of the most attractive destinations for British buyers searching for affordable holiday homes and retirement havens. Now, two decades later, the trend is back – and stronger than ever.
One of the many inspiring stories we’ve witnessed recently is that of Yossef, a buyer from the UK who came to explore Bulgaria with the hope of find...
🏆 Your Trusted Partners in the Peak of the Real Estate Season!
As autumn settles in, the property market in Bulgaria is showing no signs of slowing down!
Between national holidays, the start of the school year, and the buzz of city life, we at BULGARIAN PROPERTIES have been working at full speed to bring buyers and sellers together in successful transactions...
Housing prices in Bulgaria are accelerating their growth on an annual basis compared to the first quarter, both nationally and in the country's major cities, according to data from the National Statistical Institute (NSI).
In the second quarter, housing prices in the country rose by 15.5% on an annual basis, which is a slight acceleration compared to the 15.1% growth i...
