Sofia Apartments and Sofia Rentals: overview on the first half of 2008
Posted by writer on Jun 28, 2008
The research over the Sofia apartments market and the Sofia rentals for the first six months of the current year shows that the prices of the properties, as well as the sums for the monthly rentals are still stable and slowly rising. The interest of the foreign investors in the country, especially those coming from the UK and Ireland, is not as strong as it used to be but still there are areas that are so excellent that any investment made there turns to be quite perspective.
The capital Sofia is, without any doubt such a good investment zone, along with the ski resorts with their long ski season and excellent facilities and the summer resorts with their fantastic beaches. The market shows a new trend among buyers, as the ones buying for speculative reasons only are now replaced by buyers who invest with their hearts and are not that interested in the price or the potential for return of the property which still reaches 5.30% . It is truth that in some parts of Sofia there is an oversupply of properties, however the offers for sale and rent in Sofia’ top centre and the good residential districts is still corresponding to the demand and characterizing with good quality of the presented real estate product.
Sofia Apartments go up in prices, the rentals are competitive
Posted by writer on Jun 16, 2008
In the first week of June, several of the leading Bulgarian newspapers informed that the prices of the Sofia apartments go up with a steady pace and the estimated increase ranges from 1.5 to 1.8 per cent a month. The demand is for small and middle-sized apartments priced from 55 000 to 85 000 Euros that could serve as single room rentals, one and two bedroom Sofia apartments for rent. The residential area that is most preferred but comes with the highest prices per square meter for apartment is Ivan Vazov district. The highest increase of the Sofia apartments is in the areas set immediately at the foot of Vitosha Mountain that reaches 30 %, as well as the areas of the villages Jeleznica which faces as much as 80 % increase and Pancharevo with price value of the properties up with 65 %, both of the settlements being very close to Sofia. According to the researches made the real estate companies, the price of the apartments in Sofia could reach 3000 Euros per square meter in the area close to Dianabad district, which is currently occupied by a huge warehouse for building materials. This price however could be achieved only in case there is being constructed a deluxe gated residential complex with many facilities and amenities and excellent access to the centre and Vitosha Mountain. The construction of such elegant residential complexes is a base for formation of a rich portfolio of luxury furnished apartments for rent in Sofia that are situated in the centre or in the best residential areas of the capital and come with competitive prices for renting.
As much as 32 % increase in value for all Sofia apartments in the prestigious residential areas
Posted by writer on Jun 6, 2008
The statistics taken in the last two years show that the prices of the small and middle-sized apartments like studio and 1-beds situated in the well-presented districts of Sofia have not been neutral but actually have increased with more than 30 % per year. At the moment the prices vary from 690 to 1200 Euros and this increase is valid for the southern districts of the capital that are close to Vitosha Mountain.
At the same time the prices of the same size properties based in downtown Sofia have gone up with 15 %, with an average price per square meter being 1050 Euros in the beginning of last year, 2007. The demand for studios and one-bedroom apartments is explicable with the demand for office premises and luxurious fully serviced and equipped apartments for short term renting. The price per square meter of the apartments located in the prestigious Iztok district has gone up with little bit less than 50 % or 1250 Euros/sq.m on average, as the offering there is very low compared to the huge demand for properties.
The other residential districts that offer comfortable and peaceful living are Dianabad with price of the small apartments ranging from 880 to 1240 Euro/sq.m, as well as Geo Milev and Reduta districts where the increase is similar and the prices range from 850 to 1190 Euro/sq.m.
Understandably, the stirring of the realties market affected the apartments for rent in Sofia in several major ways, resulting in raising of the requirements on the clients’ side and improvement of the services offered on the owners’ side. The Sofia studio and one bedroom apartments for rent are now many in number, luxuriously finished and furnished and enjoying excellent locations. Thanks to the competition, renting Sofia apartments now comes with affordable price.