Property near Bulgaria's capital a really good investment

[Suzanne]

Property prices in Sofia continue to rise according to the latest imoti.net data.

For the last six months the price of a square metre has risen to nearly 600 euro. Among the most expensive suburbs are Ivan Vazov, Yavorov and the central parts of the city, Banker newspaper reported.

Brokers say offers lower than 400 euro a square metre have simply disappeared. Cheaper properties include those in Obelya, Tolstoi, Svoboda and Lyulin.

Interest in properties situated less than an hour away from Sofia city also rises, brokers say. These estates are cheaper, less than 370 euro a sq m.

Among the most expensive towns in Sofia region is Samokov, due to its proximity to Borovetz ski resort. Koprivshtitza offers newly built houses in the traditional architectural style. Dolna Banya is another place attracting investors' interest. As a spa resort near Borovetz, it offers good opportunities for tourism.

Property prices in the regions mentioned vary from 300 to 700 euro a sq m, but brokers say that these cheap offers will not hold on for long and prices will inevitably rise. This makes buying an estate near Sofia in 2006 a really good investment, Banker newspaper reported.

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[Suzanne]

VILLAGES CLOSE TO BULGARIA'S CAPITAL ATTRACT MORE PROPERTY SEEKERS

A new tendency can be observed on the Bulgarian property market. Increasing number of real estate seekers prefer to purchase property in the villages located close to Bulgaria's capital instead of apartments in Sofia.

Villages located up to 30km away from Sofia offer houses at affordable prices and attract the attention mainly of young families unwilling to risk with untraditional purchase, Darik Radio reported.

Apartments in Sofia maintained unreasonably high prices, even when the construction quality was lower, Darik reported. Modern buildings cost more and to bring prices down constructors offer unfinished apartments for sale.

The Iskar gorge region offers property at affordable prices, mainly villas that do not require major restructuring. Prices of villas in regions close to Sofia vary from 10 000 to 50 000 euro.

Young families were interested in the acquisition of villas and the modification of such into permanent residence. Transportation to the capital was unproblematic due to the speed of trains and the expected completion of Sofia's underground, property agents said.

Though property analysts predict decrease in the price of Sofia apartments in the end of 2006, the number of investors willing to buy such is not expected to increase significantly.

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