The residential real estate market in Sofia in the second quarter of 2024 remains stable and active. Despite forecasts for a possible lull, the trends show a rise in prices and a significant increase in demand. This is shown by an analysis of one of the largest real estate agencies in Bulgaria, quoted by Bloomberg TV.
According to NSI data, in the first quarter of 2024, a record growth of 16% was observed in housing prices in the country. Compared to the fourth quarter of 2023, the rise is of about 7%. The reasons for the price increase are related to increased demand. After a certain withdrawal of buyers from the market in anticipation of a drop in prices, they are now actively looking for properties again, worried about possible price rise after the introduction of the euro in Bulgaria. In addition, rising wages and low mortgage rates are also contributing to increased demand.
Two-room and three-room apartments are most wanted. Average prices vary between 1,800 and 2,000 euros per square meter, reaching up to 3,000 euros per square meter in the center of the capital city.The investment in Sofia Airport's Terminal 3 will set new standards for the industry and travel in Eastern Europe, reports BTA, quoting Jesus Caballero, CEO of Sofia Airport operator. Speaking at the presentation of the future Terminal 3,..
Bulgaria has taken on new foreign debt of 3 billion euro and 1.5 billion US dollars, the Finance Ministry has announced. The triple tranche of Bulgarian bonds has sparked great interest among investors, allowing the country to secure extremely..
The political crisis is not affecting the economy in the short term – within 1-2 years , says Assoc. Prof. Krassen Stanchev from the Institute for Market Economics. “The political crisis is affecting those who are highly regulated – mostly big..
Japan's Sumitomo Electric Bordnetze plans to cease operations at one of its factories in Bulgaria, located in Mezdra, by 2025. Its second factory in..
+359 2 9336 661