At least one-fifth of the homes for sale have inflated prices, brokers say
Increased demand for housing leads to absurdities and real estate sites offer offers for panels in peripheral neighborhoods at the price of apartments in downtown Sofia or even Athens.
For example, for a two-room, almost 40-year-old panel, on the second floor in the Tolstoy district, with an area of 61 square meters, the sellers want as much as 162,000 euros, or 2,656 euros per square meter. The same price has been announced for sale on a two-room panel of 70 sq. m in zh.k. “Friendship-2”. However, for a slightly lower price – 159,000 you can buy a brick apartment of 65 square meters on the second floor of a building from 2006 in the central district “Oborishte”, according to data from the site imot.bg. Total for the center of Sofia there are at least 200 offers up to 150,000 euros.
Inflated offers are not one and two. In “Hope-2” sells panel on the last, eighth, floor of 68 square meters for 150 vouchers in euros. The block was built 36 years ago. Elsewhere they emphasize the pumping of the offers of small homes. In the first part of “Mladost-1“A small two-room panel of 37 square meters, on the sixth floor, is offered for 100,000 euros, or 2,703 euros per unit area. Lyulin-6 is a bit more modest and a similar property of 35 square meters is offered for 83,000 euros, or 2,371 euros per square meter. m. The record for a panel in Sofia is held by a 4-room apartment of 100 square meters in m. k. “Mladost-3”, where the owners have set a price of 258,000 euros.
About a dozen sa the ads in Sofia for a panelthat over 200,000 euros
In other reinforced concrete dwellings type EPC from the time of the soc the number of the offers above this limit is about 60. The maximum offer of 315,000 euros is for a four-room apartment of 128 square meters in Lozenets. In the peripheral complexes of the capital, the highest price of 269,000 euros in the segment is for a spacious apartment with an area of 160 square meters on the 10th floor in the old part of “Ovcha Kupel”.
The announcement for the panel in question of 162,000 euros in the Sofia district “T.olstoher ”is even higher than many suggestions for the center of Athens. There for example for 150 000 euro is selling a home from 120 the square of fourth floor, Sochi help in the portal spiti24.gr. There are dozens of offers for housing normal floor to 162,000 eurosshow data from site engelvoelkers.com. One of them is for an apartment with an area of 80 square meters, which is for sale for 120,000 euros on the first floor in a neighborhood near the sea. For the city center there is i offer of 108,000 euros, 57 square meters, on the third floor. According to Desislava Dimova of the Luximo agency, which operates in Greece, Bulgarians rarely seek to buy a home in Athens. “Their interest is mainly in a holiday property on one of the islands or elsewhere along the coast of our southern neighbor“, She explains.
According to Daniela Grozeva from “Veda correct” in our country at first inall sellers always place their offer at least 15-20% higher than the market price in order to have something to bargain for. “Separately, they are advised by the brokers to whom they turn for advice and assistance. 20-30% of property owners looking for a buyer want very high prices, driven by irrational desires that
there will always be someone to give the requested amount,
because that’s exactly what they need. The rest soon removed the 15-20 percent in question from their initial offer, as they had planned. The others after 5-6 months stay on the ad lower more than the price“, Explains the broker. For a panel of 80 square meters in “Druzhba” for an old panel, with outdoor terraces of more than 40 years, 180,000 euros were demanded, but 140,000 were paid. the premises. Such sellers are people who want to buy a new one built housing with the money from the sale of the old property, “Grozeva explained. She cites another case – c “Monastery Meadows – East” on the top floor for an attic of 200 square meters the offer is 800,000 euros. The seller wants this money and even offers to organize bidding between potential buyers. The apartment is located in an ordinary building, built 10 years ago, and is not in a gated complex. Additional money is required for the garage to the property “, adds she.
“In any case, keeping the high price brings losses to sellers, because the apartment is on the market unrealized,” recalls Grozeva. “Some of the sellers at high prices
let go ad just to try
The reason is that they have heard about the upward market trends. Right now really there is too much demandwhich is not good and carries a risk of a bubble. There are many purchases with loans. “When interest rates go up, the bubble will burst,” she predicted. According to her A buyer who has started to acquire a property has been looking for it on the market for about 4 months and therefore it should not be sold quickly, for example until the 14th day.
Theodora Dimitrova from the ERA agency believes that aboutferti left on real estate sites for more than 3 months can be considered bloated. “They either don’t have good marketing for sale, or they are overestimated. It’s about the masses housing. WITHand specific (such as luxury housing in elite areas – b. a.) e different, because there the circle of customers is narrower. Currently, the market is dynamic and in some areas where supply is very weak, transactions are fast, especially
from customers with opportunities holding to buy a home in a particular neighborhood
or even a building. Togava agree and pay a higher price. Pexpensive luxury homes over 200,000 euros riskthese from offers at non-market prices are lower, “she explains.
Dimitrova also believes that often people who have not necessarily decided to sell their property place ads at an inflated price to test the reaction in the market. “In practice, these are unrealistic offers that only dilute it,” she commented at the momentDemand is mainly in mass housing due to high demand and therefore prices are rising. The supply of ready-to-live is particularly low apartments, and the listings for properties under construction predominate. The situation has been like this for the last 2-3 years. Last year, the average price of mass housing deals was one hundred thousand euros.
According to Nasko Atanasov from Victoria Invest around one fifth of the advertisements placed on the market,
are at least 30% higher than the market price
“Others 20 percent from the sellers believe that they offer their properties at market price, but tis not consistent with the average for the area and the quality of the dwelling itself. The overstatement usually occurs because anyone who decides to sell looks at the ads in their neighborhood and their average price and puts something on top. Does not comply with the year of construction of the building, the quality of the apartment, the common areas and so it turns out that the property is overpriced and difficult to sell. Often in “Monastery Meadows” in Sofia there are offers that are at the level of the ideal city center. In the capital’s “Mladost” there are proposals for panels at the price of newly built apartments, and in quality buildings, “added Atanasov.
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