One-bedroom Apartments Remain Most Sought after in Sofia

The growth of real estate prices is slowing down, and for the third quarter of the year, it is below 6%.

The average price of properties in the third quarter of the year is 1,550 euros per square meter, resulting in an average total purchase price of 137,000 euros.

However, for the fifth consecutive quarter, the Registry Agency reports a 5% decline in real estate transactions. New construction remains the most sought-after option for buyers. Properties are available in the city center and in districts such as "Banishora" and "Malinova Dolina," where significant construction activities are ongoing.

The most expensive homes were sold in the "Ivan Vazov" and "Lozenets" neighborhoods, with an average price of 3,000 euros per square meter. Demand also remains high in areas with quick access to the metro and public transportation. Two-bedroom and three-bedroom apartments are in the highest demand, accounting for 54% and 37% of purchases, respectively. Only 7% of properties purchased have three bedrooms.

Interest in buying a property remains strong when the price is appropriately set relative to the location and the property's size, according to broker Simeon Simeonov. The southern areas are the most preferred by Sofia residents, but prices are also the highest there. Effective property advertising plays a crucial role in attracting buyers. Experts believe that a combination of these factors will continue to influence the housing market in Sofia in the coming year./Econ.bg  

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