The property market of Sofia is very stable. The increase in demand has not only helped increase sales, but also spurred businesses to invest in large-scale housing projects. Revitalization of investment activity, in turn, led to the growth of supply in the housing market. This was stated in an interview on Bloomberg TV Eugene Dikansky, CEO of Europroperty.
Recently there has been a reduction in the growth rate of housing prices. According to the expert, it does not indicate a recession, and the stabilization of the market. In Sofia, the pace of construction of new housing is very high, issued a lot of permits for the construction of new buildings. At the same time, the ratio of the volume of housing construction to GDP are still far from the European average. As stated by the Director Europroperty, it is an indication that investment will continue to grow until 2021.
According to Eugenia Dikanski, despite the fact that property prices in Sofia overstated by 40%, it is impossible to talk about a price bubble. In 2018, the cost per square meter of housing capital in 2 times below pre-crisis levels of 2007-2008.
Source: Bloombergtv.bg
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