Property Prices in Sofia Fall at the End of the Year

Business » PROPERTIES | March 25, 2019, Monday // 08:48| Views: | Comments: 0
Bulgaria: Property Prices in Sofia Fall at the End of the Year

In Sofia, even in the most distant neighborhoods, prices of 600 euros per square meter of living area are a mirage. This was told to Darik radio by Shtelian Kalchev, co-founder of a real estate agency with more than 10 years of experience in commenting on the scandal with the prices of the apartments of ruling party figures.

"One property has its market value. This is not on the basis of any economic trends, "he explained. In his words, one can not talk about a market deal.

Arteks is one of the most serious companies on the market. They keep on quality. But also at high price, "he said.

"I am sure that  the deal things have been done legally sound," Kalchev said.

However, can a buy-in discount reach four times lower than the market price, he replies that it obviously can. "But I say again, this can not be an indicator for the market."

Shtelian Kalchev noted that, alongside the power property scandal, people have heard and seen what the deal is about. "Many people do not believe there are deals in Sofia at prices of 2000-2500 euros per square meter."

The real estate market in the capital is cooling, but a real drop in prices may be at the end of the year, said Darik broker Shtilian Kalchev and added:
"A property bubble is a phenomenon that also occurs in many other sectors, and in real terms this is a sharp inflationary influx due to a sharp downturn."
 
Kalchev explained that cooling the market is a natural phase of the property market cycle. "We are currently in a wait period. Buyers are waiting for better deals, and builders are catching up with more and more new items. Sellers are willing to negotiate. "
 
Price correction will surely be there, he said. A mass fall in prices can not be said, but there will be a correction. It is expected to be at the end of this year or more realistic next year.

Properties » Be a reporter: Write and send your article
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria