Property for sale Bulgaria

The experts of BULGARIAN PROPERTIES were invited by a well-known information company to answer the question which are those factors that make a residential property more attractive to the buyer.

This is what our experts said: in the current market conditions the main factor that makes a home more attractive to buy is the sensible price which corresponds to the type and state of the property. There are buyers for all property types but an obligatory condition is the properties to be offered at attractive prices as buyers are very pragmatic.

When speaking of approaches in property advertising that make them more attractive we should include the professional photographs of the property, the detailed description of the characteristics and features, the plan of the property and even a video clip so that the potential buyer would get a better picture of the layout and the surroundings. We provide to our clients all these and many more services so that our properties are advertised as best as possible. But even if the advertising is flawless potential buyers will not view the offer if the price is not right. This is the first thing that they are interested in.

What are the most sought-after properties in Sofia?

According to the company, traditionally the most preferred residential quarters in Sofia for purchasing a property are the southern ones. This is true even now because the labels and stereotypes, as well as the environment, cannot change as fast as the property market.

These are properties along Bulgaria Boulevard, in the quarters of Boyana, Dragalevtsi, as well as to the east – in the quarters of Studentski Grad, Vitosha, Mladost, Darvenitsa, Musagenitsa, etc. and close to the metro stations. Buyers find most attractive new buildings which are finished, preferably in gated developments or residential blocks with guards, parking lot, garages, etc. Average offer prices of such properties vary between 700-800 Euro/sq.m. which is a good price level, the experts say.

In central Sofia prices maintain high levels of 1,000 Euro/sq.m. and above and this drives buyers back from the center as well as the fact that there are fewer new residential buildings, lack of parking spaces, etc. Of course, there is a group of buyers looking specifically for older buildings in the central parts of the city, but they are a minority. Also, there are buyers who prefer Soviet-type blocks.

It is all a question of personal preference and it is the price that mainly defines the choice.

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The data of BULGARIAN PROPERTIES based on actual concluded deals with rural properties in 2009 show that compared to 2008 their prices have decreased by 53% and the interest toward them is slowly returning. The beginning of 2009 saw a decrease in rural property prices, which was the first in the last few years.

In the last few years rural property prices increased steadily as in 2008 the average price rose by 24% compared to 2007 despite the decrease in sales by 43.5%.

BULGARIAN PROPERTIES’ 2009 analyses showed as early as March 2009 that the average price of rural properties decreased by 40% compared to the average price in 2008 and the drop in sales continued till the end of April 2009 and reached 55% compared to the same period of 2008.

May 2009 brought change to the property market which became more dynamic due to the decreased prices which reflected on the rural property segment as well. From May till the end of August the average price of the concluded deals continued to decrease and was 33% lower compared to the period January-April 2009 while the number of deals increased by 35%. The data shows the direct connection between the decrease in prices and the increase in the interest on the part of the buyers.

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One of the main positive effects of the crisis is the self-regulation of the property market in Bulgaria and the falling of the prices in the winter resorts in particular.

To purchase a holiday home in a winter resort in Bulgaria is no longer a distant dream because there are places where holiday property prices have decreased by as much as 50 percent on an annual basis. The offers on the BULGARIAN PROPERTIES site in the big ski resorts prove that in the last few months holiday home prices have become more reasonable and affordable.

For example, prices of apartments in one of the agency’s top offers – the holiday development Belvedere Holiday Club in Bansko – have fallen by more than 37 percent and now they start from just under 35,000 Euro. For this price the owners will get an apartment with a functional layout and wonderful extras and amenities.

Prices of finished one-bedroom apartments in another of the company’s top offers – Belmont holiday development in Bansko – start from only 28,000 Euro, as until recently prices started from over 40,000 Euro. The development is just a short walk from the Gondola and offers nice mountain views and a variety of amenities and extras.

A fully furnished two-bedroom apartment in the Mountview Lodge complex in Bansko is offered at 35,100 Euro as now its price is almost 30 percent lower compared to a few months ago. The apartment consists of an elegant living room with a dining zone, two spacious bedrooms, a bathroom with a toilet and a corridor and is stylishly furnished and ready to live in.

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