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Bulgarian Building Plot Market Records its Strongest Quarter since 2009

31.08.2015

Bulgarian Building Plot Market Records its Strongest Quarter since 2009 Latest figures show that the building plot market has accounted on its strongest quarter since the autumn of 2009 with transactions worth € 24 million and above. During this period, the plot sales formed 75 per cent of the investment market. Its total amount for the second quarter is € 33 million.

The total business property transactions accomplished during the first six months of 2015 amount to € 64 million. Most of the transactions are made in the Bulgarian capital city of Sofia. The activity of the developers is getting more dynamic.

Their interest has been getting stronger since the previous year. However, most of the building plots in close proximity to the large stations and boulevards in Sofia were intended for office buildings, so developers would seek such places for residential property projects.

The residential property market in Sofia is rapidly recovering and since more than a year, it has been quite attractive for the construction developers. The scale of the planned projects and the strategic location is what impresses them. Multifunctional complexes, multi-storey buildings located on larger boulevards are about to be built.

Many export merchants also built their private bases. This trend is obvious especially in terms of companies involved in automobile parts, textile and furniture industries. Approximately 200 000 sq.m of warehouse and manufacture plots in the entire country are currently in construction.

Buying property in Europe from the other side of the world, presents all manner of difficulties, even before one factors in the current martial law in Philippines , and Brexit ( for a UK passport ) in Europe. I had previous experience of buying in Bulgaria, and already knew a number of local agents. Kunka, I came to know about a year before I finally managed to make the return... she admitted that the extraordinary set of circumstances I faced, took more than a little understanding, since they seemed unbelievable. Nonetheless, she neither flinched, nor blinked, and with utmost patience, helped me through not only the purchase, but a whole heap of other problems. Both she and Hristov were kindness itself, and always stood ready to assist. Not only were they very capable as agents, and professional in every way, but their assistance has been extremely welcome, given the immense difficulties faced. With experience of agents here and internationally, I'm happy to offer the highest of recommendations for their professionalism , help well beyond the terms of house purchase, and for their sincerity and friendship. Andrew Davies

— Andrew Davies, UK
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