According to Address real estate agency, studios and small apartments in Bulgaria are increasingly popular, accounting for some 34% of sales.

With limited supply and high demand, newly built small flats at low prices are showing strong sales. Address believes that the supply of these types of properties is decreasing and new construction is on hold, adding ‘this will likely create a tendency whereby in the next few months, the demand is likely to surpass initial forecasts’.

Address also highlights the negotiating power of buyers, saying that in 87% of transactions, the buyer sought to reduce the sale price. Average discounts worked at around €3,000 or 5% of the property price. The agency believes that a rise in real estate values is unlikely until the third or fourth quarter this year, due to the global economic situation.