November 5 (SeeNews) - The average selling price of residential properties in Bulgarian capital Sofia increased by 7.6% on an annual comparison basis in the third quarter of 2021, following a second-quarter rise of 8.8% and much higher than previous quarters' growth rates of 2% to 3%, local company Bulgarian Properties said.
The average price of dwellings in Sofia reached 1,200 euro ($1,388) per square metre in the third quarter, the realtor said in a quarterly property market analysis published last week.
The average selling price of apartments rose to 116,750 euro from a 2020 average of 100,260 euro, Bulgarian Properties added.
The realtor's data showed that in the first nine months of this year new property deals increased by 25% compared to the same period of 2020 and were about 10% higher compared to the nine-month period of 2019.
Bulgarian Properties also noted the record growth of mortgage lending during the January-September period of 2021, of 40% on an annual comparison basis. According to the realtor, the reason are the ever-falling interest rates of mortgage lending in levs, 2.68% in September.
The company also said that in 2021 Sofia's property market has successfully overcome the difficulties the COVID-19 pandemic caused last year, resuming its upward trend and attracting both those searching for a new home and investors.
The tendencies which began in 2020 have continued this year, marked by preference for larger dwellings as well as new buildings, according to the analysis.
($ = 0.8645 euro)