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2004 Property Projects In Bulgaria Produce Revenue

Property investment in 2004 nearly doubled its value and produced revenue for the owners. A number of real estate projects evolved and statistics show an increase in the number of deals concluded.

Since the middle of 2005 the property market began to calm down, mediapool.bg reported. Analysts said property prices could start decreasing.

The Sofia property market offers various buildings, some of which still under construction. Buyers seem to be interested in unfinished property regardless of the risk.

At the moment supply on the Sofia real estate market exceeds the demand, a situation normal for each market economy, analysts said. Construction companies responded to market changes through more competitive prices and higher quality, mediapool.bg reported.

In the past two years most investors have been seeking two-bedroom apartments. Investors became increasingly demanding of good location, construction quality and proximity to transportation, parks and trade areas, property agents said.

Construction is most intense in the southern and eastern parts of Sofia. Demand is highest in districts like Bukston, Borovo, Lozenetz, Vitosha and Krasno Selo doe to the proximity to the central parts of the capital and to Vitosha Mountain, as well.

 
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