January 13th, 2012 — 11:40am
The prices of large properties in Sofia have dropped sharply. Only in the area of Oborishte where the most expensive properties in the capital are located, prices have increased by 4% and start at 923 Euros/sq.m. , reaching 4331 Euros/sq.m. At the same time in the affluent area of Lozenets the property prices have dropped by more than 1/5 in the last two years. The lowest price there is of 816 Euros/sq.m. The most serious price drop – of 23% – in the expensive areas of Sofia is in Beli Brezi. More than 700 apartments located in affluent central areas of the city have been put on the market.
Comment » | Bulgaria
October 1st, 2009 — 12:17pm
The prices of the apartments in affluent areas of Sofia have dropped by 20 %. The most serious price drop is in the area of the Doctor’s Garden – by 33% and now the price is 1500 Euros per metre. This is due to the fact that the properties offered at unrealistic prices have disappeared from the market. The rental prices in this area favoured by foreigners in Bulgaria also have dropped by 18% to 6 euros per square metre, which is the first drop of rental prices registered in the capital. The expectations are that there will be further price drops in the beginning of 2010; after that the market will start to recover.
The situation in the rentals of office space is similar. Prices have dropped to the levels of 2006 – 12 euros per square metre. The empty office spaces in the central parts of the capital were 13.4% in June 2009 while in the outskirts this figure has reached 19.6%.
Comment » | Bulgaria, Property