Demand for apartments shifts to outskirts

04.03.2008

Prices run high by 54 per cent and 39 per cent in Sofia and Varna respectively. Rousse saw a 31-per cent increase in residential property prices in 2007.Demand for residential properties in the outskirts of big cities picked up in 2007.
Increased demand may be attributed to the small number of real estates for sale and the expensive prices in downtown areas as well as to the building of gated complexes that raises the supply of residential real estates in suburbs, Pari daily reported on March 4.
Demand for residential real estates exceeded supply in 2007, according to Dobromir Ganev, manager of Foros. Buyers are genuinely interested in old residential real estates in downtown areas of cities but due to the poor supply are opting for real estates in the outskirts.
In Sofia demand is picking up in southeastern residential area, such as Mladost. The area is close to Business Park Sofia, which is another priority.
In Bourgas there is strong demand for residential real estates in the Meden Rudnik and Sarafovo districts.

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