The property market in the capital remains risky

According to the statistics it is positive fact that before and after the elections a collapse on the real estate market was absent and that is something which happened in the previous years in similar circumstances.

The most property viewings are made for the cheapest properties and for the high quality properties on the first line on the beach and the ones in the best districts of Sofia and the other big cities in Bulgaria.

To the properties in the middle price range the interest is very low, almost none. To the property sellers whose properties are in the middle price range, it will be necessary to make a considerable discount from the price if they want to sell their property in a short term. There is demand for properties under construction but deals are concluded mainly for apartments that are completed that have permission for use or apartments which are about to be completed. The buyers are very cautious and do not buy off plan properties.

We do not expect significant decrease in the price of the properties in Bulgaria till the end of this year because they are already lower with 30%.

Till the beginning of the year deals are concluded only for the cheapest properties. The buyers are mainly people who managed to save some money from working abroad or from selling a property in the countryside. They add some more from mortgage and invest in a home. We hope that there will be some movement but this could be stimulated mainly by improving the mortgages.

Some builders decreased the prices but this did not increased the property sales of unfinished or under construction properties.

At the moment it will be a rarity if someone buys a property which is about to be built. In this way the new properties on the real estate market in Bulgaria are less along with the demand.