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Where walked prices of the properties
An average of 2% -3% appreciation in most districts of Sofia. The largest was in Borovo - 9%, from 916 EUR / sq. in January to end of March 1005 the price is now EUR / sq. 7% more expensive properties sold in Mladost 3 and Poduyane. The reason the first quarter of such growth is the combination presence of underground and Business Park Sofia and the fact that most people decided to move from larger cities of Bulgaria in Sofia geared towards Mladost as an option to rent or purchase home. Poduyane borders the city center and has very convenient transport links, making it attractive for house purchase either for investment purposes or for personal use, experts explain.
Rise of 6% in housing for the first three months there in Mladost 4, Buxton, East, friendship and hope.
The prices of such properties have a minimal change in marginal neighborhoods with average rates of 650-800 EUR / square meters and which have metro, reliable and Obelia. In White Birches bordering the Boulevard. "Bulgaria" and Pavlovo, near the Boulevard. "Tsar Boris Iii" also almost no change in the price per square meter from the beginning of 2017 and trade runs respectively 948 EUR and 790 EUR per square meter.
Only seven neighborhoods experiencing decline in the price of living space. First with 4% decline was the center of Lyulin. From 668 EUR / sq. the price fell to 647 EUR / sq. With 2% on average cheaper can buy properties in Krasna Polyana Poligona, Shooting, Lyulin 3 and Krasno Selo.
2016 is history. See which are the most significant events and trends of political and economic life in Bulgaria and around the world over the past 12 months. More Deals earning assets and a little more interest from foreign investors. These are two major
The overall feeling of the rise this time is fueled not only by the market of plots and offices, but also on other segments that showcase key transactions. So local players expanded their portfolios of assets, and some foreign investors confirmed their presence in the country.
The strong position of Bulgaria in the outsourcing industry globally continue to push investment activity (construction and deals with working assets) of the office market, where the imbalance between supply and demand has not yet been overcome. Somewhat it gives boost to new residential construction.
This strengthens the position of plots for construction of offices and residential buildings as one of the most desired asset by investors in view of the good prospects for the market. In 2016, however, the strong performance achieved another hotel and commercial market segment due to strong year in tourism and the economy recovers and consumption.
Properties that generate income - the most preferred by investors
For all of 2016 are expected volume of investments will reach 250-270 million, according to estimates of the consultancy company Forton, partner at Cushman & Wakefield. About two-thirds of them are profitable assets, while in 2014 and 2015 dominated the ground and undervalued properties.
Excluding land transactions, assets acquired by end users and troubled assets, transaction volume is over 100 million, state of MBL | CBRE.
Key transactions are those of Sofia Airport Center, acquired by the investment fund Revetas Capital, which previously bought the mall in hotel "Hemus" in Sofia (now rebranded as Park Center), for Retail Park Plovdiv, acquired by the owners of the chain HomeMax, for Mall Plovdiv, who became 100% owned by Irish fund Avestus Capital Partners.
Even more great deals but are expected next year - with assets of over 50 million. Euros and large investment funds are increasingly occurring in Southeast Europe. Bulgaria is well positioned in the region because of the good macroeconomic indicators, though political turmoil to mar the prospects at least in the short term.
Serious interest in the vacation property market in Bansko over the past two months raised the prices of apartments in the resort.
From October until the average price of purchased apartments rising to € 32,000 in value of 443 euros per square meter, an increase of over 120 per sq. M compared to the third quarter of this year. These data show agency Bulgarian Properties for the trend in real estate in ski resorts in Bulgaria.
40% sales growth in the ski resorts
"The preferences of buyers in Bansko shift from one to one and two bedroom apartments," explained the Executive Director Polina Stoykova. She said this year was extremely active on the property market in ski resorts with a growth of about 40% of sales annually.
"The interest and purchases of properties in winter resorts is yet to be strengthened with the start of the season and general expectations are for a peak season for the last 10 years in terms of sales volume and attractiveness of the properties," says she.
€ 32,000 average price, look for one and two bedroom
According to the company Borovets is still the most expensive ski resort - the average price for the third quarter based on actual transactions is € 570 / sq. m and the average purchase price is € 36,800. 100% of the property purchase there are currently Bulgarians prevails demand for two-bedroom apartments in the resort.
"In Pamporovo, unlike the other two resorts, in 2016 we see a decline in interest and realized sales. There was revival in 2015, which weakened in 2016, "said Stoykova. She said the resort still offers prices between 10,000 and 20,000 euros.
The British are still the largest group of foreign buyers in the ski resorts, but the sea can not define dominant group.
This year has increased interest of buyers from neighboring countries and the former Soviet bloc, like Romania, Serbia, Czech Republic, Greece, Macedonia, Ukraine, Moldova, along with buyers from EU countries and also the United States and Canada.
FairPlay Properties REIT convene an extraordinary general meeting of shareholders demanding the empowerment of its purchase and construction of an office building in Sofia
It will have a restaurant, underground garage on two levels and room for a kiosk. The building will have two underground and seven above-ground levels, with an area of ​​1093 sq. Meters with a total built-up area (TBA) of above ground of 7800 sq. M total area (total area and underground) of 12,560 square . m
The estimated cost for the acquisition of the project is 17.5 million. Lev and the expected date for commissioning is May 2018

The company further stated that it expected annual operating income by building 2 million. Lev
"The acquisition of investment property generating long-term revenue will improve the quality of the portfolio of" FairPlay Properties "and will have a positive impact on the company's profit," said Executive Director Assoc. Prof. Manu Moravenov.
 "The economic benefits for the Company will result in a direct increase in profit for distribution as a dividend to the company by the amount of net income from the building, he said.
The expectations of the management of the company that first year of coverage of this gain would be 2018, and its full effect will be seen in 2019, it is estimated operating profit of the company from the acquisition of the project will effectively increase by around 2 mln. Levs on an annual basis for the period of
retention of the investment. The company plans to keep the project as an investment property long term, "said Moravenov.
The main shareholder is "FairPlay International" JSC with 30.4% share in the capital, other shareholders are institutional investors (pension 11, 15 mutual funds, 1 investment company) and 294 individuals and legal entities and small investors.
Shares of FairPlay Properties risen by 10.98% since the beginning of the year, growth in the last 12 months was 5.07%. Market capitalization is 28.14 million Leva
Bulgaria remains among countries with moderate growth in house prices
Bulgaria remains among countries with moderate growth in house prices in the range of 5-6% by the end of June annually. This data of the International Monetary Fund (IMF), which assesses the market in our country as part of a global index of property prices.
Hungary is the market with the strongest price growth over the period, followed by Sweden, New Zealand, Malta and Israel. At the other extreme is Brazil, where registered the strongest decline. Among the weakest markets are still Russia, Hong Kong, Ukraine and the United Arab Emirates (Dubai).
The Fund does not evaluate the credit expansion in the housing market in Bulgaria and the ratio between house prices and incomes and rents.
According to the IMF data, Mexico is the country with the strongest growth in housing lending, and Ukraine - with the strongest decline.
The most accessible housing in Spain, according to the Fund, as prices are about 75% of annual household income. The most available is the market in New Zealand, where prices already chasing 140 percent of annual household income.
IMF stresses that the global index of prices calculated by the institution is approaching pre-crisis reached maximum. The Fund, however, adds that this is not cause for panic, although it recognizes that the situation in the global marketplace requires more vigilance.
The Fund points out that unlike the boom at the beginning of the century now price growth in different countries do not synchronized. Within individual Member boom also limited to a few places, and in many cases the rise is not driven by credit expansion. In some cities the growth of prices was determined mainly by the shortage of supply of homes on the market, says the report of the IMF.
The experts added that countries are now more active in the use of macro-prudential policies to soften the booming real estate market. International regulators are also active in monitoring prices.
In-depth look at the index of the IMF reveals three groups of countries. The first covered 18 economies where house prices fell significantly during the global financial crisis and still fall.
The second group consists of 18 economies where housing markets undergo sharp recovery after 2013. In the third group includes 21 economies where the decline in prices during the crisis was not so serious and followed by a fast rebound.
IMF calls some countries - such as Australia, Canada and several European countries except macro-prudential measures to introduce measures to stimulate the supply of housing. The Fund warned that because of the growth of prices increases and household indebtedness in these countries, which can have adverse effects on financial stability.
Increase in property prices in Sofia
Property prices in Sofia have increased by an average of 100 euros per square meter from the beginning of the year but in October. In the capital en masse run large volumes of new construction on the background of increasing demand. Faster and decisions are taken to purchase a home because of still insufficient quality supply. So transactions since the beginning of the year recorded a growth of about 10 percent. This is reflected in property prices in the capital - € 800 per sq.m. at the beginning of the year and 900 euros in the third quarter. The data were presented at the discussion organized by Imoti.net site as part of the Annual Awards of Imoti.net good practice in the sector. In the new building the average prices range around 950 - 1000 euros per square meter, while the secondary market are around 80-100 euros lower. And shorten deadlines for realization of property, in some cases sales are for about a month. Strong demand, increasing supply, price increases and greater dynamism characterize the housing market in Sofia, summarized the representatives of over 40 real estate agencies in the discussion.
Fewer sellers are willing to give a discount on the originally announced price
By month sold only 16% of homes, and between 1 and 3 months on the market stand for 18% of the properties.
Some brokers believe that vendors have fewer advantages in the market for newly built apartments are serious competition for them. Other brokers were of the contrary opinion.
According to them, no small part of the demand is directed to the old building. Its advantages are that buy real space rather than pay dearly stairs and other common areas. Fans of old buildings highlighted the fact that the sound insulation in many of the new buildings is at a lower level than in sotspanelkite.
Fewer sellers are willing to give a discount on the originally announced price, believe more capital brokers. During the summer, nearly two-thirds of the deals were on the bid. 70% of transactions in the third quarter in Sofia for two-bedroom (41%) and three (29%) apartments.
Studios have a share of only 8%.
In this case, it should be borne in mind that not all sold real-bedroom such as new buildings are actually large studios, where the kitchen is navryana in the living room. Most preferred among the one- are those with an area ranging from 50 to 65 sq. M and an average price of 900-1000 euros per square meter three-bedroom homes marketed during the quarter have an area ranging from 88-100 square . m and a price of 800-950 euro / sq. m.
Since the beginning of the year every fourth purchase up to 50,000 euros, according to brokers. Almost the same proportion of transactions and range from 50 000 to 70 000 and those between 70 000 and 100 000. A fifth falls on property purchases costing more than 100 000. Most Wanted buyers neighborhoods in the capital except center , are "Lozenets", "Banishora", "Student city" and "Geo Milev".
In the period from July to September, except in the largest cities of the country increasing the number of real estate transactions registered and smaller as Kazanluk, Sliven, Botevgrad Municipality. Growing interest in housing "green," which reinforces the claim that there are not enough properties to meet demand, say brokers.
Is the strongest quarter sales of real estate
Data of the Registry Agency show that the fourth quarter of last year concluded a record for the last three years 68 583 transactions. This is significantly more than the previous quarters of 2015, when buying and selling property in the country were respectively 59 259, 58 149 and 44 330. The statistics are similar for 2014 and 2013 - respectively 65 133 and 65 279 transactions in last quarter of the year.
Market data for past 12 months
Homes in Bulgaria have risen by 4.6% over the past 12 months - until June 2016, and by 4.1 percent for the period January 1 to June 30 Namely the rise since the beginning of 2016 ranks us 15th position in the world in growth in property prices. The amendment to the second quarter of one percent, says a report by Knight Frank, dealing in property prices in 55 countries worldwide.
A a property boom?
REAL recovery of 2015 continued in 2016 has turned into a boom.
Analysts' low interest rates on deposits and excellent mortgage, combined with strong property market, rising property prices in major cities and stable demand for rental properties is an incentive for buyers to invest in property. " The results of the positive impact of this combination of factors are already visible - an increase in sales volume and massive new construction in major cities.
According to large real estate agency yet another increase in prices in regional cities in the second quarter of 2016 on an annual basis is 3%, the biggest gains were in Sofia, Plovdiv and Varna, and most often reported growth in within 5-10%. The most significant growths were 15-20% and they are measured in Sofia and some of the most desirable neighborhoods in other cities. Declines in domestic prices mainly in towns in northwestern Bulgaria, whose markets are the most unattractive and remained under pressure from weak demand.
House prices in construction catch those already at the ready
Between 15% and 20% were cheaper prices before Act 16 at the end of last year. Since the beginning of this difference quickly melts. For the first two months prices have already finished goods stabilized due to the fact that they have reached an equilibrium point. The cost per square meter of living space "green" are increasing rapidly.
"The key argument for lower prices has so far been associated with the calculation of risk - less security for shoppers when buying an apartment without a permit. But when the investor is a proven and financially stable, this factor loses gravity. At the same time deal "green" brings many advantages that ready home can offer, "said Theophilus Petrov, CEO of Green Life.
The main plus of purchasing a home under construction is the ability of customers to participate in designing the layout of the house under construction. "Buyers have very different requirements in terms of effective distribution because strictly individual needs. We come clients who have long looked ready property but could not find them compliant. When you become owners of an early stage of construction of the project, they have the option to participate in part of the design decisions. This is the key reason are willing to pay a price similar and sometimes higher than the already finished homes with similar characteristics. "Said Petrov.
In recent months, in Sofia as if the market should more ambitions of entrepreneurs than native housing needs of the buyers. "In the last quarter of 2015 recorded a decline in building permits, which prednachertava definitely calm and buyers who are looking for their first home with optimal performance, feel it. To be stable segment should be covered all sections of the purchaser and supply is a projection of demand. "Said Antoaneta Todorova, commercial director at the company.
60 average salaries are needed to purchase a home in Bulgaria
Despite the growth in house prices in 2015, the accessibility of them continued to rise since except that fell lending rates, the average salary also slightly raised.
In 2013, according to the national average, a property of 60 sq.m are paid 65 salaries in 2014 took 63 salaries, and in 2015 - 60.
This year the industry predict 10% growth in property prices, noting that in the past 12 months they have already risen by 10% in Sofia and 5% in Varna.
Upward trend observed for two years. This is clearly felt by buyers whose demand last longer than necessary and they had to compromise with your purchase. We have a case of buyer with a budget of € 50,000, which more than a year looking for a small apartment in Gotse Delchev. After months could not decide prices rose and within budget he had to buy a property in a less prestigious neighborhood shows an example of the work of real estate.
Preferences metropolitan areas become more sustainable. Favorite for home buyers are "Mladost" and the center. The trends are towards enhancing interest in the eastern districts of Sofia - square. "Sunrise" and "East", also known as diplomatic quarters.
Over 1,000 euros a square is already enduring value in "Yavorov", "Lozenets", "Ivan Vazov", "East", "Sunrise" and in the center.
The prestige of these areas is sustainable and the emergence of new projects them back the interest of buyers. Of key importance is the degree of uredenost, transport links, proximity to parks and security.
And have experienced the growth of transactions for two and multi-property at the expense of one and two.
The trend significant proportion of buyers to try to improve their living standards and to seek a large area estate. Of great importance for them and good distribution and quality performance, indicating brokers. According to them they continue to grow and transactions at higher levels. Increased purchases of over € 100,000, there is growth in the share of between 50,000 and 100,000 euros.
However, most people are already familiar with the market conditions and decisive. When you find the desired property, proceed to quick purchase. If in 2014 we have registered about 50% of purchases made within a month, then in 2015 their share is already above 60%.
Growth in property deals made with the mortgage, reported by the industry. They have risen to 51% of all transactions by 47% in 2014. The biggest - by 7%, a rise of small loans covering up to 30% of the property value.
The data of the Registry Agency also showed significant growth in the number of mortgages. However, no information what share of these loans in effect refinancing. " In this regard, he predicted that at the end of this year banks will grant mortgages at interest rates of around 4%.
The industry reported an increase in the number of transactions concluded without discount. In the past year they have reached 32% of all. For comparison a year earlier, their share was less than a quarter.
Rose slightly and the percentage of purchases with discounts under 1000 euros. More serious discounts - from € 5,000 up decreased as a percentage.
20% of investments in order to rent.
Over 20% of all concluded last year real estate transactions are made with the idea that they are rented out subsequently. For comparison a year earlier, the share of purchased for investment purposes housing was 18 percent and in 2013 - only 9%.
According to experts, a major contributor to this result have lower interest rates on deposits compared with yields from renting property for rent. Last year it reached 4%, while interest on deposits in major banks pulled down below 1%.
In the ranking of the online portal themovechannel.com of the most desirable destinations for purchase of residential property Bulgaria fell to 14th place in the list. Since the beginning of the year 1% of all requests for a second home on the site were for properties in Bulgaria. Last year our country was under number 5 on the list.
First preference in the US, followed by France, Spain and Turkey.
The largest drop in the rankings notes Croatia - 13 places to 35th position, Germany lost 12 seats (№18), Canada and 11 positions (№19).
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