Sat, Nov 21 2009

Sofia banks offer flats for 300-400 euro a sq m

Wed, Jul 08 2009 15:12 CET byNick Iliev 2065 Views 2 Comments
Sofia banks offer flats for 300-400 euro a sq m

At a starting price of 302 euro a sq m, a 97 sq m flat in the Hipodruma borough of Sofia, (15-minute walk from the town centre) is offered for 29 246 euro, Investor.bg has reported.

The property was appraised at 152 000 leva in June 15 2009, but its starting price has been slashed to 57 200 leva. Documents for participation in the auction can be submitted by June 22. The aforementioned system has been already in operation in Sofia, with flats with unpaid mortgages and other outstanding liabilities, in this particular case, two mortgages to Piraeus Bank being offered on general sale.

The average price at which the 32 flats on offer at the moment (two, three, four and more bedroom units) is 685 euro a sq m. Naturally, the starting price is seldom the actual price at the end of the auction, as for some properties there is substantial interest. For some properties, however, "there was only one bidding candidate", Investor has reported.


Source: propertywisebulgaria.

Comments

Anonymous Edy Stutzmann Tue, Jul 14 2009 15:34 CET

This comment has been removed by the moderator because it contained .

Anonymous Edy Stutzmann Tue, Jul 14 2009 15:32 CET
Inappropriate comment?

This is not correct. I have not found any offer

Anonymous Mr. P.K.Sharma UK Mon, Jul 13 2009 20:09 CET

This comment has been removed by the moderator because it contained .

Anonymous Mr. P.K.Sharma UK Mon, Jul 13 2009 20:09 CET
Inappropriate comment?

Dear sir,
The auction web site is in Bulgarian, if it is in English as well i think would be MORE people intersed.

Write comment

Name:Comment:

Generate new code
Send your comment
Bulgarian banks double income requirements for mortgages

Even though low prices are taking down the total amount needed to strike a deal, borrowers still feel intimidated by high interest rates.

Sunday Business Post: Irish firm developing real estate in Bulgaria goes under

Blackwater Homes, a Cork-based firm which has constructed several housing developments in the south of Ireland, and is currently promoting a 354-flat complex in the Black Sea coast in Bulgaria, including a spa and a hotel, has filed for bankruptcy protection

Sharp reduction in construction of real estate

A total of 3897 new flats in 547 new buildings were developed in Q1 of 2009, mostly in the seaside cities of Varna and Bourgas, followed by Plovdiv and Sofia.

More in this category

New modern marina worth 24M leva to be constructed in Pomorie

The Black Sea town of Pomorie has approved a proposal for the construction of a spacious and modern marina, with a capacity of over 600 yachts and small passenger ships.

Construction sector in Europe continues to decline

Over the course of a year, from one of the leaders in Europe in new construction, Bulgaria became one of the countries currently quagmired at the bottom of the table and was now amongst the three worst hit countries, along with Romania and Slovenia.

Bulgarian Property Developments begin construction of 12.6M euro logistics park in Rousse

The park is posed to act as an economic stimulant in the region, creating a modern infrastructural base for companies. It is set for completion by Q3 of 2010.

Discounter chains Penny Market, Plus open stores in Bulgaria

Both retailers target at least 50 outlets in Bulgaria by the end of 2010.

The big question

When will Bulgaria’s real estate and construction sector recover?

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.