Strong Q1 for the property sales in Sofia
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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We are slowly returning to our normal everyday lives and the Bulgarian property market is experiencing a growing demand and a rising volume of deals after the corona virus lockdown.
Here are the present market trends which mark the start of a new beginning for the property market in Bulgaria:
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The average selling price of residential properties in Bulgaria's capital Sofia increased by 4.0% on an annual comparison basis in the first quarter of 2020, local company Bulgarian Properties said.
The average price of dwellings in Sofia reached 1,120 euro ($1,219) per sq m in the first quarter, the realtor said in a quarterly property market analysis published last week.
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...
BRITS could return to Bulgaria's Sunny Beach as soon as July as the country reduces its lockdown measures.
To encourage tourists, beaches will also offer free loungers, sun beds and tables when they open again for business.
Bulgaria has managed to keep coronavirus cases relatively low - the country has reported just 1,704 infections, and 50 deaths.