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Average property prices in Sofia, Bulgaria's capital, rose by 6% year on year in the first nine months of 2015, and the number of completed property transactions increased by 20% over the same period, according to estate agency Bulgarian Properties.
The average purchase price of apartments in Sofia was €781 per square metre in the first nine months of 2015, compared with €738 per square metre during the same period of the previous year.
The estate agency confirmed that its calculations are based on Registry Agency data, which also showed a total of 16,838 properties for sale in January–September 2015, compared with 13,888 in the same period of the previous year.
The average price of apartments sold in Sofia in the third quarter was EUR 794 per square metre, compared with EUR 780 in the previous quarter and EUR 750 in the third quarter of last year.
Polina Stoykova MRICS, Managing Director and Head of Research at Bulgarian Properties, commented in a statement: ‘We therefore already have a clear picture of how the year is going to end—with property prices increasing by approximately 6% and sales up by 20 to 30%.’
The published data show a marked increase in property sales volumes in Bulgaria and good returns on investment in real estate.
Today is certainly the best time to invest in Bulgaria, and the property market offers an excellent investment opportunity both through capital appreciation and the steadily increasing income from renting homes and offices.
De Amicis & Petrova Law Firm provides advice and assistance to support the investor through every stage of a property transaction, to prevent and counter possible risks associated with transferring real estate and subsequently with managing and letting the acquired property.