Real estate developers predict more dynamic residential building construction

30.06.2014

The low prices and the slight increase of the apartments demand is going to trigger residential building construction, real estate developers predict. Experts say that the property construction is about to be activized due to the fact that people are convinced that the prices cannot continue to slump.
Up until now, cheap and compact properties drag the attention of the clients, local media inform. There is a prognosis that a minimal increase of the market as well as the price activity could be expected until the end of this year due to the fact that high-quality offers deplete.
The real estate market in the Bulgarian capital city of Sofia is expected to be the most dynamic one and the sales number is about to grow provided the prices are stable.
Another essential market segment remain the seaside holiday properties and to a certain extent, the interest in the winter resorts in Bulgaria on behalf of the local buyers can be anticipated. Now, more and more residential properties are sought which have been recently constructed and which meet all the demands for a higher energy efficiency class.
Certain lack of well presented properties in the big cities is an issue yet until the end of the next year, it will be solved because a number of new to-be-built apartments will already be available.
Real estate developers prefer building mainly small residences yet with a favourable location.
Two-bedroom apartments are currently being looked for with prices varying from EUR 40 000 – 45 000 as well as three-bedroom ones with a total accommodation of 80 – 90 sq.m at prices from EUR 50 000 – 60 000. The property market especially in the larger inhabited places will remain dynamic, experts explain.
Bulgarian citizens who have been working abroad for a long time and who intend to return in Bulgaria are the main buyers that contribute to the property sales right now. The domestic property market is in quite a good situation than before and the real estate prices are very low.

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