Sofia Municipal Housing Prices To Be Hiked

Sale prices of municipal apartments in Sofia will rise by two to 2.5 times, depending on their location, according to the amended ordinance on prices of municipal residential property, adopted by Sofia municipal council on February 28.

Rents of municipal dwellings will rise by 30 per cent, the city hall secretary Rossen Zhelyazkov told reporters, as quoted by Bulgarian news agency (BTA).

Compensations for property swaps, when the municipality takes over private property for the needs of its projects and exchanges it with another property plus compensation, will vary between 30-40 per cent of the value of the total built-up area, depending on the property’s location, Zhelyazkov said.