For the first time in 5 years, average selling prices in almost all regions of Sofia are under € 1,000 per square meter. The decrease in prices for the last year is 6% and the largest discounts were in western regions with 9% and in lowland suburbs in northern regions the prices fall with 19% for sq.m
There is increase in prices but only for regions around the newly built metro line, according to a study of the biggest real estate companies for the development of the real estate market this year.
The issued building permissions are with 23% less compared to the permissions issued during the same period in 2011. Slight increase in the volume of new buildings is noticed with around 56,000 square meters, and the consultants expected developing of this trend in the coming months.
Offers in areas near the second line of the subway is limited in anticipation of significant interest from buyers and rising prices.
Oversupply of office places and a lack of significant demand from tenants make prices levels very low comparing to the situation during last years.
Bargains for prime offices are at levels ranging from 10 to 12 euros / per square meter / monthly, while secondary locations attract tenants for 3-5 euros / per square meter / monthly. There are no new office projects and building permits issued during this year are for less than 5,000 square meters
According to the schedule Paradise Center and Bulgaria Mall are planned to open by the end of the year.The trade plots for rent in the capital will become more than 320,000 square meters.