Sofia's Costliest Property District Sports EUR 950/m2
Prices and Analyses
Sofia's southern district of Ivan Vazov is the most expensive region for housing in the capital, with an average price of EUR 950/m2, statistics show. Prices of residential apartments in Ivan Vazov district overtake those in the city center, where offers reach EUR 864/m2 on average, according to data of the local real estate site www.imot.bg. The luxurious Lozenets district also ranks among the top ten most demanded areas in Sofia, prices there down by only EUR 5/ m2 as compared to the city center. The southern district of Strelbishte also made its way into the top most expensive real estate regions, prices of residential areas there set at about EUR 727/m2. The ranking includes the districts of Yavorov (EUR 840/m2), Iztok ( EUR 831/m2), Izgrev (EUR 820/m2) and the area around the Medicine Academy (EUR 812/ m2). A semi-annual report of Colliers International shows that sale prices in prime residential areas remained in the range of EUR 820 - 1,650/m2 in the second half of 2005. The agency notes that although there was an increase in asking prices, as a consequence of the demand domination transactions were closed at 5-10% below the asking price. The middle class market, including Malinova Dolina, Vitosha and Beli Brezi commanded prices in the range of EUR 650 - 750 /m2 for new construction. Houses with sizes of 250-450m2 commanded prices in the range of EUR 250,000 - 350,000. In Bankya and Knyazhevo, which are not among the most demanded locations, houses of similar size command levels of EUR 150,000 - 160,000. Boyana registers the highest price levels, exceeding EUR 750,000, which are possible for high-end residences with six bedrooms, swimming pool and designers' interior. Source: www.novinite.com (07.03.2006)