Exclusive properties retain the values

A number of people are now wondering if the time to invest in real estate is right. But when they are resolved to do it, they have to look for the best offers as prime assets are presumably least exposed to losses in value.
But those hoping for bargains might be deceived. City centers are still offering striking prices of between several hundreds and over a million euro for apartments with problematic maintenance and image. Meanwhile, quality properties in new and well –maintained buildings are very few and potential buyers have limited options.

Million-euro properties
You have to be more than a millionaire in order to afford to live in such place – a six–bed, two-level house made up of 800 sq m in Sofia’s Dragalevtsi residential district. The home features a two-car garage and a plot of 1,320 sq m. The price of this property is € 2.2 million. Expensive, isn’t it? Well, probably yes, especially if we compare it to another home in the neighboring prime district of Simeonovo where a 1,000- sq m plot and just as much land cost € 1,550,000. Valuating such real estate has always been difficult for buyers and vendors - especially in times of uncertainty when property prices are in great danger and demand is plummeting. However, real estate agents say that whenever a serious buyer appears on the horizon there are deals although clients have indeed become fewer.

Demand for super luxury in Bulgaria,
albeit on the part of politicians, sports persons and artists, is still stimulating vendors to ask higher prices for their properties. This does not refer to Sofia alone. In the city of Varna, located in the area of Morskata Gradina, a spacious 240- sq m residence features three bedrooms, a large living room, kitchen and dining room and two terraces viewing the park outside. The price of course is far beyond average prices in prime districts – € 870,000 or € 3,625 per sq m. To draw a comparison, we found out that the most expensive two- and three-beds in Gratskata Mahala neighborhood and the city center were traded for between € 2,500 and € 3,300 per sq m in the beginning of the year. But it was hardly surprising at that time that a local developer had the ambition to build two 100-meter-high towers.