Price Gap Widens Between New Builds and Panel Homes in Sofia

Business » PROPERTIES | September 23, 2024, Monday // 09:27
Bulgaria: Price Gap Widens Between New Builds and Panel Homes in Sofia

The price gap between newly constructed homes and panel buildings in Sofia has reached approximately 400 euros per square meter, with expectations that this difference will continue to widen, according to construction contractors. The demand for larger, more comfortable properties is outpacing supply, leading to rising prices.

Buyers tend to choose apartments based on their financial capabilities. Families often purchase larger units, such as five-room apartments, even if they have just one child, realtors noted. However, the majority of transactions involve two- and three-room apartments, with a particular demand for three-room units averaging around 90 square meters, which can accommodate a family comfortably.

The desire for home ownership in a pleasant environment is driving interest in new construction projects. There is a notable preference for closed residential complexes, where developers create inviting surroundings, including lawns and play areas for children, enhancing the overall living experience. As people seek to settle in their own homes, the trend toward new developments continues to grow.

Properties » Be a reporter: Write and send your article
Tags: panel, New, buildings, sofia

Advertisement
Advertisement
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