Bulgaria's Real Estate Market Stabilizes
Sales of residential properties in the center of Sofia in Q1 2014 have doubled, compared to Q4 2013, shows data of the real estate company Adres.
More than 30% of the purchases were for over EUR 100 000 and around 20% of the buyers got the property for investment purposes.
Another rising trend is the increase interest in property still under construction. Around 10% of the sales were for properties before they obtained Act 14 (construction certificate issued when the main construction of the building is completed). This, according to Adres, is a sign for stabilization of the real estate market in Bulgaria and increased optimism.
The Adres study shows that the market is still more favourable for the buyers, but it does not mean that the sellers are in a disadvantaged position.
The company expects an increasing demand in the following months, partially driven by the new legislation, regulating the credits.
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