Higher demand for Bulgarian residential properties at prices up to EUR 100 000

04.08.2014

The properties at prices up to EUR 100 000 have attracted buyers’ attention again at the end of the first half-year of 2014, local real estate agencies have found out. The property deals above this price made by the agencies represent a share of 15% as it was not higher than 8 % at the beginning of the year.

Bulgarian real estate developers reckon that the period of the deal making is shorter as compared with the one in the previous years. Approximately one third of the sales have been made within 30 days.

People with higher incomes tend to make decisions very quickly as far as property purchase is concerned. They pay much more yet they invest in larger properties. This leads to the recent real estate market improvement.

Unsurprisingly, people of humble condition need much more time to make a decision whether to invest in a property or not. This is due to the fact that they are not informed enough and do not react to economical changes so fast.

A Bulgarian real estate agency reveals that apartments have been sold with the purpose to invest and their share from January to June 2014 is 12 %.
At the same time, the number of people who sell their property in order to pay off their credit slashed by 5%. More and more people decide to sell their real estate just because they would like to move to another place.

The interest in properties with much more living space remains steady up until now. About one third of the sold three-bedroom apartments is the predominant share of the demanded properties.

---