Bulgaria's Property Prices Up by 12% in Six Months Alone
In six months alone, real estate prices in Bulgaria have jumped by 12%, showed data of the Association of Real Estate Brokers.
In Sofia, the average price is about EUR 1,000 per sq m. There is growing interest in deals in new construction real estate.
Broker Iliyana Vasileva explained that real estate property of up to 60 sq m is most sought after and people purchase such properties in order to invest and lend these. After a certain slump in the market, now there is a deficit in supply:
“Since the beginning of the year, there has been a deficit in the supply of quality real estate in all segments. We are not just talking about small apartments! Let’s say a nice, brick, three-room apartment with a garage. There is no choice and no supply of such offers,” said Vasileva.
This is why ¼ of the buyers are targeting deals in new construction properties.