Property in Sofia only for 50 000 euro

In the very center of Sofia the property investors can buy a decent apartment for sale for prices starting at 50 000 euro. The sellers are more flexible when it comes to discounts in the price now and the property buyers are more and more demanding, in other words it is a buyers market now.

An apartment with area of 90 square meters in the ideal center of Sofia is sold for only 50 000 euro. Initially the buyer was asking a little less than 75 000 euro, but after thorough negotiations he lowered the price with 45%. Almost 35% was the negotiated discount for a one bedroom apartment in Lozenets, the deal for the apartment was concluded at 58 000 euro and the initial price was 78 000 euro.

On average 3500 euro was the discounts for the property buyers during the first months of the year, while at the end of 2009 the discounts were 6100 euro on average.

Especially opened at the end of last year were the owners of the big apartments - they were making discounts for more than 10 000 euro from the initial price, while in the beginning of 2010 the discounts are not bigger than 5400 euro.

The expensive one bedroom apartments stayed on the market for longer time - almost 6 months. The cheap 2 and 3 bedroom apartments are the best for sale on the market.

The property prices have increased with 300% over the past 10 years. During the 2000 the average price per square meter in the capital was 248 euro per square meter, in Varna it was 199 euro per square meter. The peak was during 2008 when the price per square meter reached 1087 euro and 1060 euro. During 2010 the prices fall to 707 and 712 euro per square meter.