Cheap apartments are bought up in Bulgaria

Cheap apartments are bought up in Bulgaria

About 3 out of 4 purchases of residential real estate in Bulgaria can be attributed to low-cost or cheap segments, writes ee24.com citing monitor.bg. According to EPPI, 75% of transactions are less then €45,000. It can be whether small apartments in central areas of cities or spacious apartments in outskirts.

"In Sofia, you can find a small apartment in panel building priced at €45,000, but such housing needs repair. The cost of apartments in residential areas of Sofia is at least €1,000 per sq. m. In good districts in the centre of Sofia (Ivan Vazov, Strelbiste or Lozenets) apartments cost from €2,000 to €3,000 per sq. m", - Milen Jankov, CEO of Bolgarstroy - BG Estates Group, one of leading Bulgarian real estate companies, informs ee24com.

According to ee24.com expert, apartments in elite areas of the Bulgarian capital (Boyana, Dragalevtsi and others) cost about €2,500 per sq. m. Such housing has been recently built and it corresponds to new European standards.

Now in Sofia there are 30 one-room apartments offered for €20,000, and there are about 500 apartments offered for a price from €20,000 to €30,000, although 60% of them are in old panel houses.