Smaller Apartments Gain Popularity On Bulgarias Property Market
Smaller apartments become increasingly attractive for property buyers in Bulgaria.
The majority look for one or two-bedroom apartments, costing between 30 000 and 40 000 euro, Capital newspaper reported.
Because of the lack of interest, construction companies split larger apartments before the final completion of real estate projects.
The higher demand for smaller apartments resulted from the price increases since 2000. Costs were pushed up by the intense demand, aimed at purchase and sale for higher prices in the future.
Supply meets demand for the time being, real estate agents said.
At the same time, dealers of larger apartments said the interest toward bigger property remains steady. One reason for this is the decrease in the price of three-bedroom apartments, Capital reported.
More investors become interested in the purchase of apartments with investment purposes. Buyers from Bulgaria, the UK and Ireland participate in such deals.
Investors maintain their interest in the more expensive southern Sofia districts. Interest toward new construction in districts like Liulin, Mladost and Droujba is also high due to the lower prices, Capital reported.