Sales and rental prices on the residential market in Sofia are forecast to stabilize in the short term, according to a market overview.

The average asking prices for residential property in Sofia saw a minimal increase last year, says the market overview of leading real estate company Colliers International Bulgaria.

The area around the Doctor's Garden in downtown Sofia and the Ivan Vazov neighborhood retain their position as the most expensive locations in the capital, but mark a slight fall in prices - 7,3% and 4,4 % respectively.

The average asking prices for residential property in the region around the Doctor's Garden reached EUR 1 620/m2 in the second half of 2006, down from EUR 1 695/m2.