Latest News
27.04.2016 Sofia Residential Property Market Makes Strong Start to 2016
novinite.com
“Buyers were much more confident in buying residential property even before the start of construction works,” Polina Stoykova MRICS, Managing Director of Bulgarian Properties, said in a statement on Monday
Yet, buyers seemed to be lagging behind market trends, with a big share of demand for apartments that cost up to EUR 50,000 while the offer of such properties was rather limited, particularly in popular neighborhoods of Sofia, Stoykova commented.
The average price of sold apartments in Sofia was EUR 835 per square meter in the first quarter of the year, according to data of the real estate firm.
The average price of residential property in Sofia exceeded EUR 800 per sq.m. in the last quarter of 2015 for the first time since 2011 and the upward trend has been maintained with prices consolidating at levels above EUR 800, according to the company.
Apartments in Sofia sold for an average of EUR 815/sq.m. in the fourth quarter of 2015 and EUR 770 in the first quarter of the same year. Accordingly, the increase in property prices in Sofia for the first quarter of 2016 was 2.5% compared to the previous quarter and 8.4% year-on-year.
Half of total sales were newly built apartments or apartments under construction, including buildings at a very initial stage of construction, Bulgarian Properties said.
The average price of sold property in new buildings was EUR 950/sq.m. in the first quarter of 2016, about EUR 100/sq.m. above market average.
The average price of purchased apartments in Sofia for the first three months of the year was EUR 79,800, while the price paid for newly built residential properties was EUR 90,000, which illustrates the buyers’ willingness to pay higher prices for quality new projects, the real estate agency commented.
Apartments with two and three bedrooms had equal shares in sales over the past three months and together accounted for 85% of total sales of housing property in Sofia.
“It is noteworthy that there was an increase in the share of purchased three- bedroom apartments, with most of them being in new buildings in the early stages of implementation which allows for bringing together neighbouring apartments to make more spacious homes with more rooms to meet the needs of the buyers,” the company said.
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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
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Latest News
Every Third Property Inquiry Comes from the UK
08/May/2019
Every third inquiry for a house around Veliko Tarnovo comes from the UK, according to data from one of the real estate agencies.
Outside the villages of Elena, Balvan, Vetrintsi and Musina, up to 25 km from the old capital, houses that need repairs can be purchased for just 10,000 Euro or even less. Fully renovated 1-bedroom or 2-bedroom houses in good condition with a large yard ca... read more
LATEST REGIONAL NEWS
The Television Tower Will be Open to Sofia Residents and Guests
15/May/2019
https://www.novinite.com
The television tower, located on "Dragan Tsankov" Blvd, will be open to Sofia residents and guests.
It offers views of the capital from 106 meters high. The facility is located on the boulevards "Dragan Tsankov" and "Peyo Yavorov" and was opened in 1959 and has 14 floors.
The television tower is privately owned and is now open to designers.
According to... read more
DID YOU KNOW?
Bulgaria is among the Countries Surveyed for the New Volkswagen Plant
22/February/2019
novinite.com
The German carmaker Volkswagen relies on electromobility. By the end of this year, the production of "Volkswagen I.D." will begin.
As a result, the company will also build a new factory in Eastern Europe, and Bulgaria is also among the candidates, reports Deutsche Welle.
... read more
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