Sofia Bulgaria properties and apartments



Sofia Sofia is the most dynamic property market in Bulgaria. Sofia also offers the most equitable property market achieving highest rental potential. Prices of property in Sofia have seen a very dramatic change in the period 2002 - 2004 and since 2005 the market have matured and offers steady growth and predictability. Sofia has population of about 1.2 million and property transactions in the capital make up almost a quarter of all property purchases in Bulgaria. There is practically no unemployment in the Bulgarian capital and incomes are several times higher that the rest of the country. Prices of new developments in Sofia vary significantly according to location. Like any other capital there areas in high demand and subsurbs where you'd better run away from. Sofia's skyline is predominantly of 5-8 storey apartment blocks. Sofia property prices range between €700 up to €1,400/sq.m. Most desirable and "posh" areas are the central part and the suburbs of Boyana, Dragalevci and Lozenec, where properties achieve highest asking prices. On the other hand, the areas which are most undesireble are Nadezda, Ovcha Kupel and Levski-B. Supply of properties in the very center of the Bulgarian capital is very limited, so price fluctuations are very common, with many properties now having asking prices in the range €2,000 - 2,500/sq.m. Buying a property in Sofia to great degree was and probably still is not the first choice of foreign investors or holiday homes hunters. Unlike holiday homes though, a property in Sofia guarantees equitability and high (for the Bulgarian standards) rental income. Rents of newly build properties and in desirable aras are now even higher than those achieved in Warsaw or Bratislava and similar to those in Istanbul. Rental incomes range between €400-€450/month for two bedroom apartment up to €750 - €800/month for three bedroom apartments.

Bulgaria Properties

Sofia