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SOFIA (Bulgaria), November 13 (SeeNews) - Sales of residential dwellings in Sofia increased 8% year-on-year to 6,874 in the third quarter of 2019, local realtor Bulgarian Properties said on Wednesday.
The sales of new builds in the capital city represents 90% of all housing property deals in the period between June and September, Bulgarian Properties said in an e-mailed quarterly property market analysis.
The average selling price of housing property was little changed on an annual comparison basis at 1,088 euro ($1,197) per sq m in the third quarter of 2019.
At the beginning of 2019, the real estate market in Sofia gathered pace and this trend is still maintained at the moment, Polina Stoykova, CEO of Bulgarian Properties, said in the analysis, adding that the last quarter of this year will be exceptionally strong for the market.
Bulgarian Properties' forecast for the housing market in 2020 includes stable market environment, increasing housing property deals and lower mortgage interest rates.
(1 euro=1.95583 levs)