Most expensive home in Bulgaria costs USD 10m

The most expensive home for sale in Bulgaria costs USD 10 million, the report of luxury real estate agency Unique Estates says.

There are about 10 properties for sale around the same price in the country, yet USD 1 million would be enough for a luxury house basically anywhere in the country.

Only 3,000 properties in Sofia are selling at a price of more than EUR 1 million. These are just a half percent of all real estate in the Bulgarian capital.

According to the report of Unique Estates, the representative of Christie's Great Estates in Bulgaria, only every tenth house sold in Sofia can be described as luxurious, thus with a value over EUR 700,000.

To sell such a property, however, will take at least a year, the report says. For comparison, if you own a luxurious mansion in Miami, USA, it will find a new owner for half that time. In Toronto, Canada the same would take just 45 days.

The highest price, which acts as a psychological barrier to this type of property in the country is USD 1 million. Accordingly, most luxury homes are offered at a price below USD 1 million, in order to be able to find buyers for them. As a result, for this large sum of money you can get a luxury house anywhere in the country.

If you would buy a spacious 200 square meters apartment in a top location such as the Doctor's Garden area in the capital, you will need a budget of around EUR 450,000 for the deal. Against EUR 700,000 alternatively, you can become the owner of a 600 square meters house in Boyana with a 2 acres yard.


15.08.2013, The real estate market at present