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
Earthquakes and torrential rains that hit Bulgaria in May have altered the real estate market with preferences now geared towards lower floors and panel buildings.
The news was reported Monday by the new agency BGNES, citing a study of a leading real estate agency.
Before the earthquake, buyers have shown more interest towards middle and high floors for the beautiful view, but now they ask for first floor apartments.
74% of buyers now prefer a residence between the second and the sixth floor, compared to 63% before the tremors, while those wanting a first floor apartment went up by 6% - to 11% from the previous 5%.
According to experts from another real estate agency, the percentage of those who want an apartment on the 10th floor or above is down by 80%; the one of those favoring the sixth floor and above – by 40%, while interest towards residencies between the second and the sixth floor is up 20% and towards first floor places – close to 100%.
The earthquake also resuscitated interest towards panel buildings, which experts say are built with high safety, particularly quake-safety, standards, while the negatives are their unappealing look and lack of energy effectiveness.
Real estate brokers further forecast increased interest from residents of large cities towards low-story and modest buildings in the countryside.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
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
The housing market in Bulgaria witnessed mixed trends in the fourth quarter of 2023, with overall prices experiencing a modest increase of 1.2%
Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022