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Residential choices in Sofia

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  • Residential choices in Sofia

    Nowadays, business in Bulgaria is developing rapidly: more and more international companies are opening offices in Sofia, local business is growing at a fast pace. With this, the number of young successful professional business people, is also increasing in the last several years. This tremendous development is concentrated primarily in the capital city of Sofia, where around 2 million out of 7.8 million total Bulgarian population live and work. Of course, this sets up the question of proper housing for all these people.

    cityoffounatins.eu
    Sofia apartments

  • #2
    Bulgaria is the top investor wish list:
    Bulgaria, Turkey and France are the three countries set to see the biggest growth in demand among overseas property investors, a new survey has found.
    Fly2let.co.uk reports that the NatWest International Personal Banking League of Buying Abroad found that 75 per cent of mortgage brokers expect to see an increase in the number of people looking to buy in Bulgaria in the next three years.
    Turkey (56 per cent) and France (46 per cent) are also expected to see a rise in demand, it was found.
    Portugal (41 per cent) and Spain (31 per cent) complete the top five locations predicated to be popular with investors.

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    • #3
      Still we have seen quite few leal troubles with foreign investors in Sofia.

      One of the biggest troubles is the construction companies asking for an unfairly big first installment of 40% and more on signing of preliminary contract for an off plan properties.

      I have to strongly advice all bulgarian property buyers to seek and advice from a bilingual bulgarian solicitor before comitting to a property purchase in Sofia.
      Solicitor Verzhiniya Dakova
      Solicitor Bulgaria Ltd
      Bulgarian Solicitors

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      • #4
        Bulgaria is the cheapest European country so the credit crunch will draw more people there. Many areas in Bulgaria are over developed (Bansko and the coast), under developed and dodgy (Borovets) or over priced (Sofia). However, check out Pamporovo - it is the most southern mountain resort in Europe, an hour from the Greek border and 1.5 hours from the White Seas coast. It has a meditteranean climate, so great skiing and great summers. this means that if you buy a property there you get all year round rental returns. Then there is the Super Perelik Project that will link two peaks to create 217 km of ski runs, and small airport, a golf course, and will make it the most popular resort in Bulgaria. The area has a protection order on it so there is limited development allowed...which avoids overdevelopment!
        Check out the Palaz - the highest development on piste. Check out a company called No More Hotels.

        Also Check out this news story : The Sunday Times, 16th March 2008...
        Knight Frank’s latest quarterly Global Property Index, made available
        exclusively to The Sunday Times, shows that prices in many parts of the
        world are still rising at a considerable rate — and, in some cases, have
        even been accelerating. The list is headed by Bulgaria, where prices rose
        34% last year, compared with 17.4% in 2006

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