The Four Neighborhoods in Sofia, where the Most Homes are Currently Sold

Business » PROPERTIES | August 6, 2018, Monday // 13:36
Bulgaria: The Four Neighborhoods in Sofia, where the Most Homes are Currently Sold

"Dianabad", "Manastirski livadi-Iztok", "Geo Milev" and "Oborishte" are the four neighborhoods in Sofia, where there is the largest number of purchases of housing at the moment. Of these, prices are the lowest in Dianabad - an average of 950 euros per square meter, and the highest - in Oborishte - an average of 1300 euros per square meter. This shows analysis at the end of the second quarter of the year by Arco Real Estate, which specializes in real estate. Overall, however, the valuation of specialists showed a slight growth of 2.28% in real estate supply over the period. First of all, the number of offers for three-bedroom apartments, the average price for the capital is about 1000 euro per sq.m. Following are those for one-bedroom apartments with an average of 1020 euro per sq m.

Which are the preferred neighborhoods for buyers?

With regard to the preferences of the buyers are the estates in the districts of Iztok, Reduta, Oborishte, Krastova vada, Vitosha, Borovo, Geo Milev, Mladost 1, Center "," Dianabad "," Lozenets "and" Malinova dolina ".

On the other side the least interest is in the districts "B-5", "Svoboda", "Xladilnika", "Knyazevo", "Opolandovtsi" and "Poligon".

"Leading demand remains for an apartment to buy - about 84% of our customers are divided into groups who look for different types of apartments," the experts explain.

Most searched are two-room apartments

"The analysis of the Agency's search shows that in the second quarter of 2018 the most preferred are again two-room apartments, which represent 33% of the total demand at an average price of 65,000 euros, followed by the three-room housing - 30% of the total demand at an average price of 105,000 euros, "the document says. As for the new construction with an upcoming or having an Act 16, the demand for a three-room apartment is predominant, with the price that buyers are willing to offer ranging from 110,000 to 130,000 euros.

"Arco Real Estate reported a growth of 16.29% in the second quarter of 2018, compared to January-March 2018, and a 61.3% increase compared to the same period in 2017. In contrast, in the first quarter of the year, the second one is characterized by increased demand for plots and less interest in buying houses, "said the experts.

The rent for one-bedroom apartment reaches BGN 1200

The average rental prices for a dwelling in Sofia are growing, whereas in the first quarter of the year, those for one-bedroom apartments are in the range 950 - 1200 euro, and for the two-bedroom - between 1300 and 1600 euro, according to the analysis Colliers International. Houses for rent in the capital are available at prices above 2000 euros.

"In the first half of 2018, a 3% growth in supply in the middle and high-end housing sector was recorded and reached 8,200 units." The number of active construction projects continues to grow - 2,900 residential units or 14% growth over the previous period, "says the document. Colliers reported an increase in property purchases for an investment of 25% to 45% in the first six months of the year.

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