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Purchases of investment properties are reviving

Purchases of homes for investment are again a fact on the real estate market in the capital.

For the period January - June 2012 more bargains for investment purposes were concluded, comparing to the same period during 2011. This is a significant positive sign for the housing market since the end of last year when purchases for investment purposes were rare and the major share of purchases contented basic housing needs.

We can define two main groups of buyers.

Some of them are people with business or occupy a high position in a major company. Now they see an opportunity to purchase quality properties at the best possible prices. Usually they buy more spacious and even luxurious homes.

The other group are buyers who were renting for years and now due to the best combination- low prices, low interest loans they acquire their own home.

Prognoses are that until the end of the year the market will become more and more active, influenced also by two groups of buyers in summer - foreigners looking for holiday homes and Bulgarians living abroad, who use their summer vacation for purchasing a property in Bulgaria.

At the beginning of August a serious intensification of the rental market is expected, where future students, followed by seasonal workers, will strengthen the search.

The release of the new metro line in Sofia in the autumn will increase the interest for purchasing a property in communicative areas.