Full speed ahead for sofia

Positive changes are taking place all over Sofia, claims one company…

According to Property Secrets, Sofia, is experiencing a ‘fractionalisation in the market’, with the emerging class is starting to ‘split and divide’, which is a sign that the property market is ‘starting to evolve’.

A spokesperson for Property Secrets explained: “As the property market is beginning to diversify and we are starting to see areas develop very specific characteristics. This is like the maturing of any property market. There is now a demand from the local market for a particular type of product in different areas of the city.

”Developers are now catering for this by producing developments to meet this demand. The market is maturing and the local market is now starting to look for more and this is reflected in the type of product being built.

”A demand is now also emerging for refurb properties in the city Centre. In areas like Lyulin where there a high demand for new builds, I am also seeing the standard of developments rising. There are also more international developers entering the market. This indicates the market is advancing.

“The presence of international developers means the market is developing and following international trends and is also becoming more investor-attractive. It is safe to say that the Sofia property market is now beginning to take shape and take off.