The last 6 months experts there has been a noticeable increase in activity in the property market in Sofia. For example, in comparison with last year the average duration of home sales since the submission of the relevant ads fell by 24 per day and is 69 days!
The average price of residential property in Sofia today is 53 000 €. Typically, most buyers offers only half that amount, so they plan to get the remaining amount on the loan from the Bank.
These credit centre the expansion of the mortgage market is much lower than the number of real estate transactions, as due to the lack of permanent work, people don't dare to take Bank loans, despite more and more attractive credit conditions offered by banks.
Experts say that most often property in Bulgaria is purchased for personal use (i.e. as a dwelling for permanent residence), but the cases of acquisition of property for quick resale or long-term lease rather rare!
