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.