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Friday, September 22, 2006 

INTEREST IN BULGARIA'S LARGER PROPERTY DECREASES

The interest in the purchase of three-bedroom apartments in Bulgaria was decreasing, property market analysis for the past several months showed.

Two main reasons led to the trend, 24 Chassa newspaper reported. Prices of such apartments remained high and at the same time market supply has not increased.

In the end of past year the interest in the purchase of three-bedroom apartments went up. Property agents said that Bulgarians were still lacking the income needed for the maintenance of larger apartments, though.

Agents said that most people looked for two-bedroom apartments. Interest in the purchase of three-bedroom apartments in the bigger Sofia districts decreased on the average between six and 15 per cent, 24 Chassa reported.

Demand in the central part of Sofia decreased most. The average price of such property there was 921 euro a sq m and more than 1400 properties were currently offered for sale.

In larger Bulgarian cities interest in the purchase of three-bedroom apartments remained almost unchanged. Agents said that the property market there was less developed and the number of people having the ability ti buy larger property was limited.

Source: Sofia Echo


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