News Article Bulgaria economy interview market properties residential SEE Sofia
by Property Forum | Residential

Properties in Sofia rank relatively cheap compared to other major cities in Europe. The Bulgarian capital is taking the last place in rankings by average price and the market has opportunities to grow. The opinion was expressed by Thomas Stanishev, Director of Galardo Real Estate, in an interview for the show "Club Investor'' of Bloomberg TV Bulgaria



Stanishev pointed out that for the time being the tremors in the banking sector do not affect the market. "Demand from buyers is still high," he added. In his words, there is currently a slight decrease in demand and a slight drop in prices per sqm, but no drastic declines are expected. "It's hard to say where the market will go. Price growth has stabilised, there will be a plateau, it will not continue."

According to the expert, property prices in the southern districts of Sofia start from €1300-€1400  per sqm and have record sales in the centre for over € 5,000 per sqmHe noted that important for buyers are the location, distribution, level of completion of the building, and development of the area.