April 23 (SeeNews) - The sales of new builds in the Bulgarian capital Sofia has increased to 90% of all housing property sales in the first quarter of 2019, from 60% a year earlier, local realtor Bulgarian Properties said on Tuesday.
There is high demand for dwellings in buildings that are not completed, mostly due to the lower prices and more flexible payment options offered by investors, the real estate agency said in a quarterly property market analysis.
The total number of home purchases in Sofia in the first quarter was 5,641, according to data from the Bulgarian registry agency. The new builds are not included in this number, as they will be registered only after their completion.
The average selling price of housing property edged down to 2,112 levs (1,080 euro) per sq m in the first quarter of 2019 from 2,135 levs (1,092 euro) per sq m. in the same period of 2018.
Expectedly, the rise in house prices in Sofia has slowed down and they will remain stable in the following year or two, Polina Stoykova, CEO of Bulgarian Properties, commented in the analysis.
Bulgarian Properties' forecast for the housing market in 2019 includes stable market environment, balanced supply and demand, and good financing opportunities.
(1 euro=1.95583 levs)