Residential Property

“Real Estate Cannot Be Lost Or Stolen, Nor Can It Be Carried Away. Purchased With Common Sense, Paid For In Full And Managed With Reasonable Care, It Is About The Safest Investment In The World.”

Franklin D. Roosevelt

Property is one of the world’s oldest forms of investment and continues to offer investors returns that consistently outperform other classes. Residential property investment assets provide capital gains and can be used to generate a regular income in the form of yields and, unlike commercial property, there is wide market of potential tenants and buyers should an investor want to sell.

Residential Property Market Bulgaria

MARKET RESEARCH

Bulgaria’s housing market continues to recover. Property demand is increasing and Investor confidence is up. In fact, a 25% year-on-year growth in the number of transactions was registered in 2015.

Strong Market Recovery

The recovery is particularly strong in Sofia, Bulgaria’s capital, where apartment prices rose 6% in 2015 from the previous year according to real estate firm Bulgarian Properties.

High Demand

The shortage of quality product and the high level of demand led to a come back to pre-sales transactions, which took an impressive share of 37%.

Shortage Of High Quality Product

Asking prices for mid-plus and high-end residential units registered a 5% year-to-year growth in 2015, due to the shortage of a high quality product.

Forecast For 2016

Market To Strengthen Further

Bulgaria’s property market is expected to strengthen further this year. Demand for properties in the major cities will grow, and the supply will become increasingly limited due to the low levels of new construction, according to local property experts.

Increase In Property Prices

Property prices are expected to increase by about 7% this year from a year earlier.

Continued Pre-sale Transactions

For the mid-plus to high-end residential market in 2016 it is expected that pre-sale transactions will continue and that the high demand will result into a wider project pipeline.

Information Sources: Bulgaria – Residential Market Overview, 2015, Colliers International and Globalpropertyguide.com