PROPERTY SALES AND RENTS IN SOFIA

The buyers of properties in the Bulgarian capital Sofia are looking for smaller apartments this year. In the first half of 2012 51% of the buyers were looking for apartments with a total area between 50 and 80 sq.m. The popularity of the bigger apartments with total area between 80 and 120 sq.m. has decreased by 10%.
This tendency is connected to another one – decreasing of the budged of the prospective buyers. In 2011 most buyers were planning to spend between 50 000 and 80 000 Euros for a property, while in the first half of 2012 only a third of them are prepared to do so. Another third of the buyers now are prepared to spend between 30 000 and 50 000 Euros.
The demand for more expensive apartments with prices exceeding 120 000 Euros has decreased in favour of the demand for apartments under 30 000 Euros.
The greatest demand is for apartments located in the central parts of Sofia, followed by apartments in Borovo and Manastirski Livadi.

Most of the rents are focused on apartments with a total area between 50 and 80 sq.m. The share of the large apartments for rent exceeding 120 sq.m. is growing. Half of the tenants are prepared to pay a rent above 250 Euros per month. At the same time the number of tenants looking for rents under 150 Euros per month is steadily decreasing.

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