Property in Bulgaria have increased by 300% over 10 years
The cost of housing increased by 300 percent over the past ten years and despite the fall in prices over the past two years, property remains one of the most stable investments for the Bulgarian citizens. This shows a market survey of real estate agency "Address".
He said house prices in Sofia in 2000 was 247 euros / sqm, while in 2010 - 706 euros / sq.m. The peak was in 2008 when a square home was worth ˆ 1087. To compare prices in Varna in 2000 dwellings were 198 euros / sqm, while in 2010 already 712 euros per square meter and even negligible to date are more expensive than those in the capital. Data on the "Address" are based on real transactions.
"Many of our sellers are currently poor, with a minimum monthly income and housing is their only wealth, so they are difficult to part with it and want more than the average market price," said Tsvetelina Taseva, executive director of Address. According to the good properties come on the market only after the death of their owners, their heirs because no sentiment at home and easy to negotiate its sale.
Statistics "Address" shows that the market longer keep expensive bedroom homes - almost half a year. While most are looking for short its multi-buyer discount estate.
Great discounts on sales are leading to the conclusion of transactions and in May. Dwelling area of around 90 square meters in the city center was sold for just over 50 thousand euro, initially offered its price has fallen by over 45% of the state "address. Nearly 35 percent did was agreed to drop one-bedroom apartment in downtown. Deal of the dwelling has become a price of 58 thousand euros in an initial request about 78 thousand euros.
"However, where vendors have shown a similar malleability, the trend tends to continue to reduce their willingness to negotiate," said Tsvetelina Taseva.
Average ˆ 3,500 buyers had saved during the first months of the year until the end of 2009 exceeded the discount is ˆ 6,100 per deal, according to figures of the "Address". Particularly compliant at the end of last year were big sellers of homes that have compromised more than 10 thousand of its original price. At the same time in early 2010 they have declined by no more than ˆ 5,400 from the amount tendered.
In parallel, the supply of homes decreased in the last two months with 14.5 percent, the study of "Address".
"At the end of 2009 demand grew by 7% per month, with the highest levels we offer in the first quarter of 2010, and now only two months - April and May, it decreased by nearly 15 percent," said Taseva. The reasons are in its view, the withdrawal of part of sellers waiting for higher levels. Higher prices are not expected to be achieved this year, said Taseva.
From "Address" reported growth of transactions. The explanation for the resurgence of buyers do not miss bargains. Most active were people working in the economic sphere, as do many purchases are made by accountants.
About 62% of transactions in May housing 30 thousand to 40 thousand euros, according to an analysis of the "Address". For that amount buyers are usually looking for one bedroom apartment with an area of about 50 - 60 sq.m. in the suburbs of the capital, but often fail to conclude a transaction more favorable than expected. Not a single case in which a little over 40 thousand buyer failed to obtain a flat 70 - 80 m2 in more remote areas of the center.
Published on 2012-05-22 10:17:22
Source: Dnevnik
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