REAL ESTATE BULGARIA 2022: FUTURE FOR THE PROVIDENT PLAYERS

Cheap loans, the economic recovery after the Covid-19 crisis, the desire of more people for a bigger home or a safe investment dramatically increased the prices of urban and countryside properties in the past two years. What will happen next on the real estate market?

In mid-2022, the rise of the prices, including due to more expensive new construction, seemingly cooled down buyers' interest. The prices on the secondary market began to look unreasonably high, particularly in the old prefab neighbourhood of Sofia where the square meter now costs as much as in a good quality new building.

The clouds are getting thicker in banking, too. The time of cheap mortgages is over and the interest increase is certain. The feeling of an impending energy crisis in the air also urges caution when taking a mortgage.

Talking heads have always loved predicting doom and gloom. However, recent events demonstrated that apocalyptic scenarios never happen as predicted. The market was said to crash during the Covid-19 lockdown, but this did not happen; instead, the current boom took place. The end of the office space also did not come, although the sector inevitably changed.

If there is a single word to adequately describe the present and near future of the property market, it would be transformation. Transformation of consumer attitudes, investors' projects, the technologies used and the amenities that buyers seek.

The active players on the real estate market today by all means seek quality. They know the value of the money they are ready to invest or spend on property and choose carefully. They buy "at all cost" only when they see that the project or property in question are from a reliable developer and are of the best quality. Quality in this case means good layout, spacious rooms, plenty of natural light, good location in a good neighbourhood, access to greenery, enough parking places. On the market there are projects that meet these criteria, but their number is limited and they are sold out quickly as clients easily recognise their potential and do not waste time in useless considerations.

Located among Boyana's quiet and thick forests, A PLACE TO CALL HOME (www.aplacetocallhome.bg) is a modern gated community in one of Sofia's greenest and calmest neighbourhoods. Looking both south and towards the Vitosha mountain, with a fast access to the city centre, it is one of the best developments to live or invest in in Bulgaria. The compound has 34 terraced houses grouped in 6 buildings. Each house has its own yard with rich greenery and a view towards the mountain to the south and the city to the north. A PLACE TO CALL HOME has an underground parking with e-vehicles charging stations and green shared spaces. With their gentle transition between white, grey, beige and wood colour, the facades are also designed to spare the eye. They are covered with top-quality insulating materials and breathable coatings, and the aluminium window frames are with very high heat and noise insulating properties. A PLACE TO CALL HOME is all of this, and much more – a true dream home in Sofia.

Designing exclusive high class residential compounds is a trademark of АMMAR Group (phone: +359 883 180 190; www.ammargroup.com), a Bulgarian company. Its mission is to offer on the Bulgarian market construction quality without compromises, business practices in line with top international standards, competence and responsibility. The projects of АMMAR Group meet even the most demanding expectations, creating quality cosiness and stability of investment, combining functionality, comfort, security and market value. The company achieves this with a qualified team and modern technologies, materials of proven origin, application of strict criteria at all stages of the work process and individual approach. Each apartment designed and built by АMMAR Group is constructed with attention and professionalism in the spirit of sustainable development – a space that is the materialised dream of every inhabitant and investor.

Social media ads and dedicated websites spawned the false belief that one can easily have the property market under their eye, identifying easily the right deal for them. This is hardly so. Without the help of an experienced, ethical property agent, it is impossible to compete in any meaningful way for good offers with other buyers. This is why sensible investors and buyers cooperate with an established broker who knows the market and attitudes well, guides them towards the best offers and makes everything possible to make the best deal.

High class properties have their specifics when they are bought as homes or investment, are sold, let and managed. The safest way to make the most of them is by partnering with professionals who know well each stage of the process and work ethically, putting as their top priority the advantages and profits of their clients. Belle Estates/ERA Premium (Sofia, 44 Vitosha Blvd, www.belle-estates.com) is such a company. Established in 2020, it steps on the expertise of two professionals with invaluable experience in the field – Nikolay K Kanev has invested successfully on the UK market, and Pavel Petkov is a pioneer in Bulgaria in short-term rental of top-class properties. Together, they offer a range of exclusive services to clients with high requirements and budgets, and help them to discover the best investment property or home in accordance with their goals and desires. This is why it is hardly a surprise that in 2022 the agency became a part of the US brand ERA and opened the first and only Premium office of the company in Bulgaria.

The professionals at Vaya Estates (Sofia, 25 GS Rakovski St, phone: 0879 46 47 42, www.vayaestates.com) have set an ambitious goal – to provide their clients with the right offer as fast and reliably as possible. They successfully achieve it with years of sales and management experience in the field, constantly upgrading their skills and knowledge, while building reliable partnerships with clients and investors. Vaya Estates maintains an extensive portfolio of new properties by leading development companies at attractive locations, and offers a closed circle of real estate services. They include interior design, residential construction and renovating activities, and furnishings. Thanks to this mix, Vaya Estates clients receive full support and help from the deal's closure and choosing the best mortgage loan offer to moving in their new home.

Energy efficiency, passive buildings, systems for intelligent management of the home and the office are the hot trends on the international propery market. Soon, they will become the standard in Bulgaria as well.

Smart homes are still exotic on the Bulgarian market. Valkrea.House (Sofia, 21 Lerin St, phone: 0886 969 442, www.valkrea.house) has set the ambitious, but realistic, goal to change this. The company specialises in integration of building automation systems and offers the full range of services for construction, upgrading and maintenance of intelligent solutions for buildings and properties management. The professionals at Valkrea.House can help with the right combination of expertise and technology regardless of whether you want to retrofit an already existing building, the bespoke design of a complete system for smart management before the start of the construction, or a combination of the two. Whatever you choose, after the intervention of Valkrea.House the building will be not only significantly more comfortable and safer for inhabitants and visitors, but also more highly valued on the market, an excellent investment in the future.

For Ivelin Hristov, founder and owner of Vi Group Bg, a construction development and investment company (Varna, 1 Academician Andrey Sakharov St, investment/projects: +359 898 477 070, sales: +359 876 767 735, vigroupbg.com), innovation and sustainable future are not just beautiful concepts. They are a concrete work plan. Led by the idea for a cleaner and greener world, he and Vi Group Bg work purposefully towards design and construction of affordable and quality energy efficient buildings. The company name is a synonym for reliable partnership at each stage of the construction, investment and sale of residential and office projects. This is why when you see a project signed by Ivelin Hristov and Vi Group Bg, you should not think twice – regardless of whether you are buying a home or an investment property, you will get high quality, low utility bills and modern comfort of inhabitation.

The current real estate market in Bulgaria is challenging, but in the long-term perspective, the current turbulence is temporary. Property increases its value with time, and this will remain so. This is why quality real estate is still the best way to invest your money in 2022.