Flat viewings increase in January and February but it is too early to raise prices

The number of flat viewings increased by 23% in the first two months of 2011, compared to November and December 2010, according to Address real estate agency. More than 800 housing viewings were registered in Bulgaria last week alone. The market is characterised by abundant supply and falling prices. This stimulates buyers to purchase a new home.

"The real estate market in Sofia is considerably stirred up while outside the capital the situation is more moderate," commented for Klassa Polina Stoykova, COO of Bulgarian Properties, a real estate agency. A trend of recovery can be observed in the capital, the interest towards real estate properties is significant and the number of concluded transactions has considerably increased, compared to the same period of last year. "The year usually starts with a lull but 2011 is an exception," she said. Bulgarian Properties reported some 2-3-fold increase in the number of viewings and a number of new offers. "But I cannot say that there is a change in prices, compared to the last months of 2010," added Stoykova.

The market recovery will begin by an increase in the volume of transactions, albeit at a slow pace. According to the Registry Agency, real estate sales in Sofia in 2010 were 6% more than in 2009. This is a positive signal for the sector, according to experts, and may be interpreted as a tentative recovery of the market in the capital city. 

Text and photo: klassa.bg

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