New construction in Sofia is for every taste - when you choose wisely
Where do you prefer to live? In an apartment in the centre of the city? In some of the capital's dynamically developing neighbourhoods? In a family home far from the crowds and the urban noise?
Whatever your personal preferences, Sofia's real estate market will offer you a diversity of interesting solutions. For several years now the sector has developed with accelerating rates and in some segments has already reached the levels of the pre-crisis 2008. According to prognoses this year will see an increase of the deals, and prices will go up with about 8 percent. As early as 2017 the average price of a square meter in the capital approached 1,100 euros. The neighbourhoods that this year are above this threshold, according to the imoti.net data, are locations traditionally seemed as prestigious for living like Belite Brezi, Boyana, Borovo, Geo Milev, Gotse Delchev, Ivan Vazov, Izgrev, Iztok, Lozenets, Oborishte, the centre, Yavorov and others.
The increased demand for properties in Sofia is the result of a number of factors. The standard of living in the capital is on the rise. The bank interests remain so low that it doesn't make sense to keep your savings there. Mortgages are cheap. The increase of foreign tourists and the demand for properties for short term letting in platforms such as AirBnB led to the demand of such real estate for investment. Many young families with good incomes decide to move into a bigger and more comfortable home.
The demand logically led to an activation of construction. In reality, today it is impossible to travel through any part of Sofia without seeing the new apartments blocks and gated communities that are being built in the city. Some of these projects were frozen during the big calm that followed 2009. Others are new and cover a wide range of the construction portfolio: big and small residential complexes, gated communities of family homes, usually concentrated in Sofia's southern periphery. For the first time in Bulgaria were finished or are in construction mega projects and high-risers that combine administrative, business, commercial and residential spaces.
In this situation clients who are after a new property have a plenty of choice. The choice is not only big – it is better quality than the one in the years before 2008.
The crisis disciplined the Bulgarian real estate market. Many of the companies for which quality and correctness with the clients were unheard of disappeared from the market naturally. On the other hand, on it remained the companies that established themselves as developers of quality new properties with good location and layout, and care for the environment and their residents.
When choosing a property, quality is always the best strategy.
For 27 years now Torin Construction Company (Sofia, 7 Riccardo Vaccarini St, phones: +359 2 8 920 748, +359 2 8 920 751, www.torinbg.com) has set the standards in the field of real estate. Torin specialises in construction of residential buildings and family houses. Regardless of their size and type, the company always carefully selects each of its projects. They are at places with good location, existing infrastructure and amenities for the inhabitants such as educational institutions, green areas, stores. Throughout the years Torin has established the practice of providing only the best to its clients. Its projects are built with quality materials and with the aim to provide as many green areas as possible. The client gets personal attention, the option to decide for themselves the internal layout of the property, free legal help and access to bank funding. All of these explain why for so many years and regardless of the market environment Torin has remained one of the leaders in the field of real estate in Bulgaria.
Finding your property among all the offers on the market is not an easy thing to do. To succeed in this, you need the help of a company with experience in the field of real estate deals.
T.I. Homes Ltd. (Sofia, Students' Town, 2 Prof. Aleksandar Fol St, shop 2 next to entrance G, phone: +359 2 417 4353, www.tihome.bg) is such a company. Established in 2007, it has turned into a form of art the ability to meet people with their new homes. The young and motivated T.I. Homes team includes experienced professionals in the field of not only real estate, but also engineering, banks and finance, insurance. They will help you quickly and properly with everything that has to do with property deals, regardless of whether you buy, sell, or want to rent or to let. The company also works with established developers of new properties and will help you with a loan or a mortgage at preferential conditions with banks which are its long-term partners.