Sofia, February 2007, Index Imoti The Bulgarian Property Index Magazine

If a year ago ads for apartment sales in Sofia with price tags over EUR 400,000 were uncommon, currently there are tens of such offers. In Sofia city center, in Oborishte area as well as in Iztok, Izgrev, Ivan Vazov and Lozenets neighborhoods the owners of multi-room apartments of 150 to 300 sq m ask for their properties from EUR 400,000 to 900,000.

But while for an apartment of 300 sq m the price of EUR 400,000 seems acceptable at the moment compared to the registered average levels for these areas, prices of EUR 600,000 - 980,000 for apartments of 150 - 250 sq m are still hard to accept. Naturally, a question rises: what is like this apartment to have a price that high. Logically, it should have all possible amenities, to be fully furnished, to guarantee the safety of its owners, to be in a clean and well kept building, etc.

In fact most of the residential properties at these price levels meet these criteria. But currently the top price is asked for an apartment that is far from the concept of luxurious property. With a price per sq m of over EUR 4,700 an apartment tops the list of Sofia’s most expensive properties. It is a ground floor unit of 170 sq m in an old condo on Vitosha blvd., near Patriarh Evtimii blvd. On the corner of the same two boulevards there is another three-room apartment for sale with a twice lower price - EUR 2,380 per sq m.

The next "second best" top asking price in Sofia is for a dwelling of 210 sq m in Iztok neighborhood put up for sale at EUR 743,000 (EUR 3,100 per sq m). The property is a two-bedroom apartment, with a living-room of 120 sq m, two garages, etc. In the same area prices of similar apartments without the garage range between EUR 1,500 and 2,300 per sq m.

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