Sofia’s Property Market Sees Unusual Shift: Home Purchases Outpace Rentals
A new trend is emerging in Sofia's real estate scene - property sales are outpacing rentals, reversing a pattern that has dominated the past decade
Amidst the echoes of change, Vasil Terziev steps into the role of Sofia's mayor, succeeding Yordanka Fandakova. The inaugural session of the Sofia Municipal Council (SMC) for the term 2023-2027 marks the beginning of Terziev's tenure, bringing with it a set of challenges and opportunities that will shape the city's trajectory in the coming years.
The agenda for this pivotal meeting encompasses crucial elements, including welcoming remarks from regional dignitaries and an insightful overview of local election results by the Chairperson of the Municipal Election Commission, Polina Vitanova. The newly elected Mayor of Sofia, Vasil Terziev, will solemnly assume office before the Municipal Council. Leading the first meeting will be Greti Stefanova from the coalition "We Continue the Change - Democratic Bulgaria," recognized as the most senior municipal councilor.
As Fandakova bids adieu to the mayoralty, her legacy is notable, marked by transformative urban development initiatives. Among these achievements is the expansion of the metro system to an impressive 52 km, coupled with enhancements to public transportation through a fleet of new, air-conditioned buses. The rejuvenation of four pivotal city squares and the planting of 33,226 new trees contribute to Sofia's green and vibrant landscape. Additionally, Fandakova leaves behind a lasting impact with the establishment of three new parks, enriching the city's recreational spaces.
The departing mayor highlighted infrastructural milestones, including the construction of over 39 km of roads, featuring segments of the Southern arc, the northern high-speed tangent, and the western arc of the Sofia Ring Road. Notable additions encompass 144 new kindergartens, 24 schools, and the meticulous reconstruction of 94 gymnasiums, fortifying the city's educational backbone.
Yordanka Fandakova, who held the mayoral reins for 14 years, leaves behind a city marked by progress and, for some, unfulfilled promises. As she exits the stage, Fandakova's legacy becomes a canvas upon which Vasil Terziev will paint his vision for Sofia's future. The city anticipates how Terziev will navigate the complexities, build upon past successes, and address the aspirations of Sofia's diverse residents.
The Mayor of Skopje, Danela Arsovska - who holds Bulgarian citizenship - was attacked in broad daylight while carrying out her official duties in the city’s Cair district
Between July 9 and 11, the Central Military Club in Sofia hosted the first coordination conference aimed at developing the core capabilities of Bulgaria’s and North Macedonia’s Land Forces in operating and integrating Stryker combat vehicles
Minister of Economy and Industry Petar Dilov met with the Ambassador of the State of Kuwait to Bulgaria, H.E. Ghazi Hamed Alfadhli, to discuss ways to enhance bilateral economic and trade relations, with a particular focus on attracting Kuwaiti investment
As part of its "Terror-Free Türkiye" initiative, the Turkish government is underscoring a significant advancement in its regional security efforts, as outlined in a media statement from the Turkish Embassy in Sofia.
A significant national security concern has emerged regarding Bulgaria’s entry into the eurozone
Bulgarian Prime Minister Rosen Zhelyazkov addressed recent comments by North Macedonian Prime Minister Hristijan Mickoski, describing his remarks toward Bulgarian Foreign Minister Georg Georgiev as offensive and inappropriate
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