Residential property deals in the Bulgarian capital, Sofia, have seen price falls of around 10% in the first quarter of this year .. but this is in line with the general contraction of the market over the last two years.
Price levels of residential property in Sofia stood at an average at about 830 euro per sq metre in the first quarter of 2011, down from 930 euro in the last three months of the previous year, according to research from our property partner, Sofia based real estate agency, Bulgarian Properties.
Unit sales of residential properties in Sofia during the first three months of this year nearly doubled in comparison with the same period in 2010, a trend which stands in stark contrast with the slump in sales volume across the rest of the country. The majority of completed deals are in either the low-end or the luxury segments of the market.
Our partners are are particularly confident about the prospects of further construction in Sofia, commenting that the flow of internal migration from the countryside to the capital is set to continue, making the building of more residential properties a greater and greater necessity.
Despite the fall in prices through Q1, recently published research from Bulgarian Properties .. Ten year Review of the Residential Real Estate Market .. shows that prices of residential property have surged by more than 150% on average over the past 10 years, leading to a growth in the value of long-term investments. Property prices in the capital, Sofia, have increased by some 170% between 2000 to 2010.
Price levels of residential property in Sofia stood at an average at about 830 euro per sq metre in the first quarter of 2011, down from 930 euro in the last three months of the previous year, according to research from our property partner, Sofia based real estate agency, Bulgarian Properties.
Unit sales of residential properties in Sofia during the first three months of this year nearly doubled in comparison with the same period in 2010, a trend which stands in stark contrast with the slump in sales volume across the rest of the country. The majority of completed deals are in either the low-end or the luxury segments of the market.
Our partners are are particularly confident about the prospects of further construction in Sofia, commenting that the flow of internal migration from the countryside to the capital is set to continue, making the building of more residential properties a greater and greater necessity.
Despite the fall in prices through Q1, recently published research from Bulgarian Properties .. Ten year Review of the Residential Real Estate Market .. shows that prices of residential property have surged by more than 150% on average over the past 10 years, leading to a growth in the value of long-term investments. Property prices in the capital, Sofia, have increased by some 170% between 2000 to 2010.
For advice, assistance and information about Moving to Bulgaria, we recommend that you visit our website at MovetoBG.com - and for accommodation options, resources and services, we suggest Bulgaria Gateway
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