Stability Reigns: Sofia Real Estate Market Thrives Despite Uncertain Times
The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
Bulgaria's residential market will be impacted severely until the results of the overbuilding in the country in the recent years are absorbed, i.e. converted to other uses.
This is the forecast of Alan Levy, Chairman CEO of Tishman International Companies, that he made in an interview for Novinite.com.
Levy has noted that as a result of the crisis a lot of large-scale property development projects have been frozen or given up.
Yet, he believes that large-scale projects in Bulgaria will be executed primarily in the field of logistics, transportation, and warehouse development, and that exactly the logistics sector is going to lead to a rejuvenated interest in the Bulgarian properties market.
Levy has recommended that the new Bulgarian government diversify its attempts to attract foreign direct investment by being creative in various economic spheres.
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The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
As of 2022, the count of fellow countrymen who purchased real estate overseas reached 2,154, based on data from the National Revenue Agency referenced by "Telegraph"
New data from the National Statistical Institute (NSI) sheds light on the housing landscape in Bulgaria, painting a picture of the majority of Bulgarians residing in older homes.
Bulgaria has witnessed a remarkable surge in home loans at the beginning of the year, with loans for households for the purchase of houses and apartments reaching a record high of BGN 20.52 billion by the end of February
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