Housing Prices Rise in Sofia, but Affordability Improves
Housing affordability in Sofia has improved since the pandemic, making it one of the few capitals in Central and Eastern Europe (CEE) to experience this positive trend
Sofia's Mayor Vasil Terziev reassured residents that there are no risks for the upcoming heating season after a meeting with Energy Minister Vladimir Malinov. He stated that citizens should not be concerned about the heating season, emphasizing that Bulgargaz will continue to supply gas without interruption.
Terziev acknowledged the significant work ahead for improving the capital heating company, Toplofikatsia Sofia. He mentioned that a plan has been developed to address urgent responsibilities and that the first crucial steps will be implemented by the end of the week.
Currently, Toplofikatsia Sofia has outstanding liabilities totaling 830 million leva, and it also owes another 800 million to the Bulgarian Energy Holding. To tackle this issue, a working group will be established to devise a strategy for repaying the accumulated debts, according to Terziev.
A repayment plan for the heating season is expected to be finalized by mid-November. If an agreement for even a partial repayment is reached by the end of this week, the lien on Toplofikatsia Sofia’s account will be lifted. This action should not affect the company's liquidity, as confirmed by both Terziev and Minister Malinov.
Minister Malinov reiterated that the goal is to maintain performance levels similar to previous years, ensuring that Toplofikatsia Sofia does not increase its debts to Bulgargaz or the Bulgarian Energy Holding. Both companies, along with the Sofia Municipal Council, will work together to create a repayment plan that meets their obligations while keeping operations stable.
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