Sofia’s Property Market: New Construction Dominates Buyer Preferences

In Sofia, the majority of home buyers are leaning toward new construction properties, as indicated by data from a real estate firm. This trend is driven by the fact that new buildings are currently the primary source of supply in the market, attracting potential buyers who are increasingly seeking modern, well-built homes. The range of available properties varies widely, from apartments in gated communities and upscale boutique buildings to more standard cooperatives, offering a variety of options to fit different budgets and preferences.

According to industry experts, new apartments are highly favored due to their superior construction quality and the use of advanced building technologies, making them a more appealing long-term investment. Additionally, individuals with higher incomes are particularly drawn to purchasing new houses that provide more space and a greater sense of freedom.

On the other hand, the supply of older construction homes remains relatively limited. The anticipated entry of Bulgaria into the eurozone is a significant factor influencing the market. Real estate analysts predict that with the euro adoption, foreign interest in Bulgarian properties will rise, potentially driving up prices. As a result, current owners of older properties may find themselves in a strong bargaining position, able to capitalize on the existing supply-demand imbalance in the market.