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Sofia land prices plunge



Country:  Bulgaria

17 April 2009

The price of development plots in the Bulgarian capital of Sofia fell by up to 30% in 2008, according to a report published on investor.bg.

The upmarket boroughs of Dragalevtsi, Boyana and Simeonovo saw a 10% fall in prices, while some suburbs such as Vrazhdebna and Bojourishte are now seeing values of £62-£71sqm, down from £106-£133sqm.

Bulgarian-based estate agencies Mirela and Yavlena, say that the districts that up until now have been unaffected by the declining trend should also experience a fall in values over 2009.

A fall in land prices should translate to cheaper Bulgaria property values, as long as the developers buying the land pass on the rate cuts. 


See Also:   Bulgaria


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