The residential real estate market in Sofia in the second quarter of 2024 remains stable and active. Despite forecasts for a possible lull, the trends show a rise in prices and a significant increase in demand. This is shown by an analysis of one of the largest real estate agencies in Bulgaria, quoted by Bloomberg TV.
According to NSI data, in the first quarter of 2024, a record growth of 16% was observed in housing prices in the country. Compared to the fourth quarter of 2023, the rise is of about 7%. The reasons for the price increase are related to increased demand. After a certain withdrawal of buyers from the market in anticipation of a drop in prices, they are now actively looking for properties again, worried about possible price rise after the introduction of the euro in Bulgaria. In addition, rising wages and low mortgage rates are also contributing to increased demand.
Two-room and three-room apartments are most wanted. Average prices vary between 1,800 and 2,000 euros per square meter, reaching up to 3,000 euros per square meter in the center of the capital city.
“The main priorities businesses have – membership of the Eurozone and accession to the Schengen area by land – have receded to the background. They are the motors which can boost the economy, but the fact there is no regular government is an obstacle..
Bulgargaz has reported record interest in its tender for the supply of LNG to the Alexandroupolis terminal for January and February 2025. All nineteen bidders met the criteria set by the company and have been approved to participate in the next..
The Russian state oil company Lukoil has plans to sell its Bulgarian refinery Neftochim based in Burgas on the Black Sea Coast. It is the largest in the Balkans, writes the Financial Times . The deal is expected to be announced by the end of..
Partly Cloudy
Mostly Cloudy