Housing prices in the Bulgarian capital Sofia have stabilised|
2010-10-13 03:05 News from Dnevnik.bg
Housing prices in the Bulgarian capital Sofia have stabilised, with declines observed for small dwellings, according to real estate agency Bulgarian Properties and credit company Creditex & Hypocredit.
This comes against the backdrop of weaker new home construction, with the number of new building permits diminishing by one-third over the past year, according to the National Statistical Institute (NSI). This builds up vacuum on the market that prevents the prices of finished residential properties from going down. Another factor is banks` fresh desire to lend, which makes buyers more stubborn in negotiating prices, according to Creditex & Hypocredit.
"Two months before the end of 2010, we can summarise that this year is headed to become a zero year for the real estate market with no significant change in either deal volumes, or buy/sell offers in comparison with 2009," said Polina Stoykova, chief operating officer of Bulgarian Properties.
She highlighted that achieving balance and stability is a key milestone for the Bulgarian property market, which grew at a fascinating speed before prices plummeted in 2009 in the meltdown.
The average selling price for Sofia homes was EUR 840 per square metre in the third quarter, which is down by EUR 30 sequentially, shows data by Bulgarian Properties. Prices hit a EUR 740/sq m low in August. In September, demand for luxurious apartments lifted the average price to EUR 997/sq m.
This News is listed at news.Guide-Bulgaria.com
Pages:  > 2011-08-15 Sofia planning to create new industrial park nearby defunct steel plant Kremikovtzi
> 2011-05-31 Greeks buy out properties in Bansko and Razlog now owned by British citizens
> 2011-05-09 Property agency, managing the properties of the BG Ministry of Foreign Affairs, will be restructured and then sold
> 2011-04-15 French hotel operator invests EUR 22 million in new hotel in Sofia
> 2011-03-01 New office complex with a Hilton Garden Inn hotel in Sofia in Q3 of 2011
> 2010-12-28 Bulgaria`s home property market likely to hit rock bottom in 2011
> 2010-12-20 BTC halts sales of large estates
> 2010-10-29 Bulgaria is at 44th position in property prices decline
> 2010-10-13 Housing prices in the Bulgarian capital Sofia have stabilised
> 2010-09-28 Changes in Real Estate Market in the capital Sofia
> 2010-09-15 Luxury apartment rental company acquired new building in the Iztok borough of Sofia
> 2010-08-31 Search of Bulgarian properties from Brits dropped dramatic
> 2010-08-31 Registered in Bulgaria Irish property firm is allegedly a pyramid scheme
> 2010-08-23 The most expensive Sofia properties
> 2010-08-19 2 skyscrapers could be built in Sofia Studentski Grad quarter
> 2010-08-17 Municipal Sofia Properties company declared BGN 248,000 profit for 2009
> 2010-06-22 A Project for ski and spa complex in Borovets resorts was freezed
> 2010-05-19 Investments in the real estate sector in Eastern Europe to be put on hold again in 2011
> 2010-05-13 Sopharma Imoti invests EUR 50 M in business complex in Sofia
> 2010-05-03 Winslow Gardens project in Sofa`s quarter of Manastirski livadi is resumed