Property prices in our country are at their peak. According to brokers, no further growth is expected in the new year. However, there are no indications that prices will go down.
Inflation is the main catalyst for the state of the real estate market in our country. In the last year alone, house prices in Varna have risen by 30%. In Sofia, the growth is 25%. And in Plovdiv and Burgas, a property can be purchased with about 17% more compared to 2021. One of the largest real estate agencies in our country reports a drop in transactions by between 15 and 20 percent. And since it is too early to talk about a drop in prices, experts advise not to postpone the purchase of a home now if we have funds set aside.
From listing to listing and already several viewings in recent months, Ana Micheva is about to close a deal on a home. Looking for a three bedroom apartment for her and her daughter.
“The square footage here is about 70, and the price is 250,000 euros, which suits me. One part is from me, one part is a loan”, admits Ana Micheva.
Three-room and two-room apartments are among the most sought after on the market recently.
“Our deals also show the demand that 25% are looking for properties under construction, the rest are looking for completed homes,” explained Gergana Tenedjieva.
“Customers prefer middle floors because they are easier to heat,” explains broker Penka Dimitrova.
And if until now most buyers saw the purchase of a property as a once-in-a-lifetime step, now they are much more flexible and are looking for a home for the next 10 years. But their demands are also becoming more.
According to brokers, the profile of buyers is as follows: those who are looking for a place to live, those who need to change their home, and the other serious profile – the investment one.
The industry does not expect prices to drop soon. Therefore, they say that the better option is not to delay the purchase of a property.
