More than 90% of the dwellings in the new residential buildings in Sofia are realized before the issue of a permit for use (Act 16). Only the remaining 10% of the apartments are sold after the issue of Act 16.
Experts underline that demand for residential property in the capital continues to rise, and the rise in prices does not scare buyers who are much better prepared and demanding. The market is also developing with good sustainability and economic performance.
Additional control is provided by banks that are actively involved in checking and collecting information about sites, the company said.
Today's buyer wants new construction, but not one that was completed five years ago, and one that he can modify and finish to his own requirements.
In the next few years, the real estate market is expected to go over 816 thousand square meters of living space, and this is a statistic of residential complexes and buildings that have been authorized for construction in the last two years.
The interest of the builders continues to grow and the priority is finding a large enough plot with an attractive location to satisfy the growing needs of the market.
The most desirable destination remains the center of the capital, but due to the overcrowding, the traffic and the lack of parking lots, the focus and investment intentions are shifting to the southern districts of Sofia.
According to the company, Manastirski livadi-east is developing at the fastest pace. By the end of 2019, only nine new projects are expected to be put into operation in the region, and await the opening of a construction site.