The capital of Sofia attracted 8.11 per cent of property buyers, Pankev said.
The average property value at the seaside in 2006 amounted to 46 900 euro and that of property in winter resorts reached 90 000 euro.
How popular is buying off-plan in Bulgaria property?
Buying off-plan has become one of the most popular ways to become the bulgarian property owner.
What are the advantages of buying off-plan property in Bulgaria?
Scheduled payments allow buyers who don`t have the full purchase price to join the market. Buying at an early statge of a project also give the opportunity to get a good discount if you are paying the full amount up front. Furthermore, as prices continue to rise you benefit from the growth of your capital during the construction period, which is usually 12-18 months.
Have there been any changes in building standards in Bulgarian property busines?
New standards have been established in the last 10 years, with on-going improvements to materials, architecture, construction quaranteed, completion times and even the bulgaria property maintenance. Standards are now high. Stiff competition between developers means every new development tries to have better on-site facilities, such as security, playgrounds, swimming pools and fitness centers.
What advice would you give to someone thinking of buying off-plan ?
Check that the developer has previous experience. Research the best area to buy and the bulgaria property best location within each area. Also, many people buy off-plan without having a clear idea of the exact location, characteristics and specifications of the bulgarian property development, which causes misunderstanding later. Always compare the price with other developments and check what is included (VAT, furniture, facilities ect.)
Interview with Anton Pankev, CEO of Address Bulgaria, published in "Buying in Bulgaria" magazine
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