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The emphasis of the property market in Bulgaria is again on the one bedroom housing

Since the beginning of this year there has been a tendency for buyers to re-focus on one-bedroom apartments. The reasons for this are two - higher liquidity and easier rental, analysts explain. The fact that property prices have risen to pre-crisis levels should also be ignored. For the first quarter of the current year, 55% of the deals with housing have two-room properties. Secondly, the three-room apartments remain with 32%. The share of deals with multi-room apartments and penthouses is only 10%.

The average area of the purchased dwellings is 90 sq. m., and the desired properties are located between the 2nd and the 6th floor. That's 70% of the sales. Discounts on offer prices have melted and are now only around 1%. This is also reflected by the time a home is sitting on the market. It has risen to 92 days, which suggests that sellers are less reliant on the price.
2017 starts with accelerating the dynamics of the previous year, especially strong since the beginning of March. Price growth is now approaching 20% on an annual basis. This is a significant increase, especially against the backdrop of previous years, but it has to be taken into account that growth has accelerated since spring last year and we are currently comparing with lower prices at the beginning of last year.

There is no doubt anymore that the market is in an ascending cycle. Now the main challenge will be to predict when this growth will continue and where will be the point of refraction, which is the most difficult to predict and no one can say with precision. Surely we can say that we are still at the forefront of the upward curve, with expectations that this trend will continue for at least another two years. The economic rationale for market processes is very different from that of the previous boom when foreign demand was the main driving force. The market picture looks very good, there are no worries and this time we can talk about sustainable growth.

More than half of the sales are housing with new construction, and their interest remains high. The latter also leads to more apartment deals, which are located in early-stage buildings or those that are soon to be allowed to use. Property prices are rising steadily as construction progresses, and available resale homes are running out quickly, so green sales are still active.