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Summer unlocked expensive properties` sales

The new metro line in the capital affected the real estate market in neighborhoods located near the subway station positively.

There is a slight decrease in the prices with around 2.5% , but only in some areas. In neighborhoods near the subway, however there was almost no reduction, and occasionally even a slight increase.

The reason is that with the opening of the second line of the subway now the network and the perimeter is larger than before. This affects the regions` functionality and provides people mobility and options for quick and easy access to key points of the city.

In regions like Lyulin, Mladost, Ilinden, no visible change were noticed in the prices. There is a slight increase (about 0.5% -1%) in the regions of the Holy Trinity Musagenitsa, Banishora.

Buyers of investment properties at the beginning of the year is gradually returning, but in the summer their appearance is much more tangible. Bargains at higher levels are valid not only for investment purchases.

Summer ulocked sales of expensive properties. In July and August in Sofia, about 60% of the bargains were for properties valued over € 50,000, over 18% of the properties were around € 70,000 and 10% of buyers bought properties over € 100,000.

One of the main reasons for the growing number of double transactions - selling to buy another property is due to attractive promotional offers for mortgage lending offered by the banks. The middle percentage of external financing transactions in the summer is between 35 - 40% and buyers with no external financing are between 60% - 65%.

More mature buyers are active at the moment- people over the age of 45 show higher activity in the summer months compared to the first six months of 2012. Mainly they are buying home for their children students.

Sales are catalyzed by two major events this summer, and both are bound to double deals. Many sellers decide to part with their panel apartments that are second or third property within the family and invest in new build apartments.

In the summer a lot of bargains for agricultural lands were realized.

The rental market has also shown significant activity in the summer. Nearly half of the tenants in the perios June to August have found the right property within 1 to 3 weeks. Rental rates remain broadly unchanged - between 2.7 and 4.5 euros per square meter residential area in the capital.