Bulgarian Real Estate Agencies Report 20% Increase in Property Sales

Real estate agencies are reporting a 20% increase in sales compared to the summer of 2012.

According to reports of the Bulgarian National Television (BNT), as cited by econ.bg, there has been a strong upsurge in interest in the luxury property market.

However, property purchases financed through mortgage loans have decreased.

In the season of summer holidays, sales of property located in the southern part of Sofia and at the foot of the Vitosha mountain are traditionally active.

In the summer of 2013, the next most popular location is Sofia's Nadezhda residential district, where three new subway stations were built.

Bulgarians mostly opt for two-bedroom apartments.

Prices currently vary between EUR 500 – 1000 per square meter.

The average price in downtown Sofia is around EUR 700 per square meter.

Top areas for buying property in the summer of 2013 are Varna, Burgas, Plovdiv, Stara Zagora, and Blagoevgrad.

Foreigners mostly buy property on the Black Sea coast.

Source: http://www.novinite.com/

22.08.2013, The real estate market at present