Property prices are stabilizing after last year’s record highs. Apartments that have been on the market for more than a month even become cheaper by between 5 and 10%, say experts.
“A new trend in the residential real estate market is the refusal of builders to sell “on the green” in order to take a higher price later.
This coincides with the behavior of some of the buyers who, due to the many cases of renegotiation of the terms of already concluded preliminary contracts last year, feel uncertain about the properties in the initial stage of construction”, says Dimitar Hristov – real estate manager.
“What we saw last year, as a result of this inflation, a large number of buyers reoriented and decided to buy properties that are finished and furnished. This, on the one hand, raised the average price per square meter, but for them it gives a peace of mind to save themselves this stress of how much the final price of the housing will cost them,” he added, quoted by BNR.
Last year, 34,000 transactions were completed in Sofia. Brick homes are the most sought after, at average prices of around 2,000 euros per sq.m.
