High-end two-room apartments on the market reach 230,000 euros
The prices of detached houses in the capital area start from 486,000 euros
14 euros per square meter for office rent
Average prices for luxury three-room apartments in Sofia are between 240,000 and 300,000 euros, according to data from a real estate market consulting company. The specific price for each property depends on many factors such as the location, the availability of a parking space and the metro stop nearby.
In the capital, the average prices of two-room apartments from the high and medium segments of the market are in the range of 180 thousand to 230 thousand euros. And for two-room apartments, the specific price depends on the individual characteristics of the property.
Luxury properties are bought by people with high incomes, for whom interest rates on loans do not matter much. These buyers either mostly use cash or have high incomes and for them loan payments are not a problem. Luxury properties are bought by both people who want to raise the standard of living for their family, and people with savings who want to save them from high inflation. Buying a luxury property is a very good investment because the demand in this segment of the market is much more stable than for low-priced housing designed for people on a tight budget.
In the Sofia area, the average prices of terraced houses (several houses in a closed complex) are between 320 thousand and 450 thousand euros, according to data from the consulting company. The prices of the detached new houses start from 486 thousand euros. The prices of the houses are very wide and reach several million euros. The specific price, in addition to the location, depends on the materials used in the construction, the size, as well as the amenities offered to the owners, such as whether there is a pool, gym, etc.
In Sofia, there are about 14,500 homes from the high and medium segment of the market, and about 4,200 more properties are under construction. Investors see that there is a demand for such properties and try to meet the needs of buyers. People with great financial capabilities have great requirements for real estate and are becoming increasingly demanding when choosing a house or apartment in which their family will live.
Rents for two-room apartments in the capital from the high and medium segments of the market are between 1,000 and 1,300 euros, according to data from the consulting company. To rent a three-room luxury home, owners usually ask between 1,400 euros and 1,700 euros per month. Luxury house rents start at 2,150 euros per month.
Class A office rents in Sofia are around 14 euros per square meter per month. For class B offices, rents are around 10 euros per square meter. Rents for large premises on the main shopping streets in the capital average 58 euros per square meter. In Sofia’s malls, rents average 40 euros per square meter. And in retail parks, where stores of several different brands share a common parking lot, rents are on average 10 euros per square meter.
They want over 250,000 euros for a three-room apartment
A house near the city as much as an apartment in the center
Children require more space
A house near Sofia can be built for the price of a large apartment in the city center.
Buying a house near Sofia can cost more than a large apartment in the city center, real estate brokers said. Therefore, a number of people with more than two children choose a house where the children can play more freely.
Most often, between 250,000 euros and 350,000 euros costs a three- or four-room apartment in a central location in the capital. The price for buying a plot of land and building a house near the city is roughly the same, say real estate brokers. It is better for children to have a yard to play in. Therefore, the houses have a number of advantages. But apartments in the city center also have many advantages, such as proximity to offices, hospitals, many shops, restaurants and theaters. That is why the demand for housing in the center is always high.
But many people want to escape the heavy traffic in the central part of Sofia and choose the quieter life in a house near the city. That is why the construction of houses is increasing.
