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31.03.2014 Strong Q1 for the property sales in Sofia

Polina Stoykova MRICS, Head of Operations and Property Research

The first quarter of 2014 was good for the property sales in Sofia, according to data presented by BULGARIAN PROPERTIES. During the first three months of the year the market in Sofia showed very high activity compared to the same periods in the last few years. The sales of residential property increased by 15% on an annual basis. Inquiries have increased by 30% which makes us expect an increase in market activity in Sofia in the coming months.

The interest of the buyers is focused toward the purchase of apartments, while houses in Sofia provoke the attention of approximately 18% of the potential buyers. The residential districts with the highest number of sales include Vitosha and Mladost at price levels between 600 and 750 Euro/sq.m depending on the level of completion of the properties.

The average price of the apartments sold in Sofia for the first quarter of 2014 was 730 Euro/sq.m. It remains unchanged from 2013. The apartments on demand are the apartments up to 50 000 Euro, as well as the apartments in the luxurious segment at prices above 120 000 Euro.

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