Sofia's Average Price of Real Estate in Construction Higher Than Price of Old Buildings

Business » PROPERTIES | October 5, 2016, Wednesday // 15:31
Bulgaria: Sofia's Average Price of Real Estate in Construction Higher Than Price of Old Buildings

The average price of real estate property in the construction phase in Sofia is higher than the average price of already constructed old buildings, showed a survey of the construction-investment company BLD for the last quarter, cited by

Real estate property certified with Act 16 built before 2015 was traded at an average price of EUR 868/sq m, while real estate property in the process of construction reached a level of EUR 1019/sq m.

According to the survey, active buyers on the market are divided in two groups at the moment – those who buy their first home and those who look for a change in their quality of life.

The first group of buyers is influenced mostly by the price-quality ratio. They act within the framework of a budget and in accordance with primary criteria – district, infrastructure, proximity of schools etc.

The second group of clients looks for real estate property on the basis of much more detailed criteria – location of the building in the district itself, maintenance of the environment, even neighbours’ profiles.

The activity of the second group of clients determines the increase in prices of property in the construction phase.

“Since the beginning of 2016, there are over 13,000 apartments at different phases of construction in the capital. As a whole, these apartments are being built on the basis of clients’ requirements and not on the individual decisions of investors. This is why the price of new homes is higher,” explained Dimitar Savov, Executive Director of BLD.

“One of the most significant factors is the availability of garages. The price of garages in high-quality, new real estate property is between EUR 10,000 and EUR 14,000,” added BLD. 

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Properties » Be a reporter: Write and send your article
Tags: real estate, property, prices, sofia
Advertisement All Are Welcome! Join Now!
Bulgaria news (Sofia News Agency - 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." (Sofia News Agency - 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