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Real estate market in January 2011 was double than January 2010
The number of property deals on Bulgarian real estate market in January 2011 was double that of January 2010. Usually the number of sales at the start of the year is lower, but this is this year is different. One of the reasons is the discounted price of many properties- this includes village houses, apartments, sea properties, agricultural lands, forests, town properties, etc.This is a sign for the property market a whole, because the trend is indicative of Bulgaria’s real estate market.
2010 was a difficult year for the Bulgarian property market a whole. We observed drastic drops in the property prices in all segments. But in the last quarter of 2010 appeared indications for stabilization. Searching of properties started to rise slowly, property prices starred to stabilize and to take mortgage loan is easier. In the next few months we expect smooth growth in the Bulgarian property market.
Residential property prices will stabilize in 2011. Even we can expect slight increase in prices with 2-5 %. The clients are looking for new buildings, renovated village properties, new flats and properties with good location, luxury houses and luxury apartments. Specifically for Sofia- search price range is 700-900EUR/sq.m depending of the location and quality of the property.
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