New residential properties in Sofia are modern, comfortable and designed with care for the people who will live in them
In the autumn of 2016, the real estate market continues the upward trend of the past few years, particularly in Sofia were are concentrated more people, industries and companies. The statistics agrees. According to the state Registry Agency property deals in the Bulgarian capital in the third trimester of the year have increased with 9.5 percent in comparison with the same period of 2015.
Moreover, the statistic here is omitting altogether the deals in off-plan property that will be registered when the projects are finished, 2 to 3 years in the future. This sector in the property business used to be all but dead during the real estate crisis, but nowadays is active again and at places the prices in buildings still in construction have reached the levels of those in already finished buildings. The new mortgages are also experiencing a rise, and in the third trimester of 2016 they have increased with 23 percent in comparison with the same period of the past year. They yearly increase is 27 percent.
The reasons for the restoration of the property market include the stable economy, the low mortgage rates and the negligibly low interest rates for bank deposits. Buying a property as an investment is again in fashion.
These factors inevitably influenced the market in the shape of rising prices, and active construction of new projects, including of gated communities of houses and apartments.
Why buying a home or an investment property in a new project is good in 2016? At the moment, buyers can benefit from the healed real estate market in Bulgaria. Before the crisis of 2009, new construction was fast, large-scale and with minimal attention to important details like quality of execution, good planning of the homes, location and infrastructure.
New construction today is at a different level. The buyers learned to require quality and investors comply with these demands. The projects they offer are designed with consideration to the needs of the modern family, offer space and well planned internal arrangements, instead of trying to squeeze at one place as many flats as possible. As a result, each well designed and fulfilled project appearing on the market is sold out with an impressive speed.
The dynamics of Sofia's life makes us dream about a home that is close to the nature, and is also secure and inspiring to relax and to recharge our energy. The lucky people living in Vitosha Residence (phone:+359 882 213 416, www.VitoshaResidence.com) have all of this – and a lot more. Located on Baku Street in Students' Town, the building with apartments ranging from 86 sq.m to 287 sq.m is close to green areas and has a marvellous view of the mountain. Vitosha Residence is at a spot with well organised public transport and easy access to the centre, in close proximity there are schools, universities, hospitals and sport facilities. The owners of apartments in Vitosha Residence can make use of the facilities in Vitosha Park Hotel at preferential rates and under special conditions: indoor swimming pool, gym, spa centre, massage and beautician services, 24/7 security and CCTV, three excellent restaurants and two bars, bank office and kindergarten.