01.8.2007

Prices of off-plan apartments in Sofia go up by 42 per cent since the beginning of 2007

The average price of apartments in Sofia's peripheral neighbourhoods that are still under construction has gone up by 42,2 per cent. Two-bedroom apartments in Bukstone residential district registered the highest price increase - 86 per cent. The cheapest 75-sq m off-plan apartment is offered for 39 800 euro, or 531 euro a sq m. Prices of off-plan units in the suburban area could reach 1200 euro a sq m.

Prices of off-plan apartments in Mladost and Liulin have registered a significant increase, as well. In Mladost that hike is in the range of 32 to 59 per cent, depending on the size, the location and the availability of parking.

Ovcha Kupel and Manastirski Livadi districts are turning from typically neglected areas into desirable places to live and prices are steadily increasing.

Experts explain the off-plan apartment price hike with the fact that the already finished apartments on the market offer poor quality and are expensive.

Source: www.propertywisebulgaria.com