Pandemic Increased Demand for Larger Apartments in Bulgaria

The Corona crisis has intensified the demand for larger homes and houses with courtyards in Bulgaria. In the last quarter of 2020 the purchased two-room apartments in Sofia are more than one-room, and the four-room dwellings have a share of 11%. By comparison, in 2019, 60 percent of the homes purchased were two-room and 37 percent were three-room, while the four-room were barely present in buyer demand, show the data of Bulgarian Properties reported by the CEO of the company Polina Stoykova during an online conference organized by the Chamber of Professional Assessors.

"On the realty market there is demand for apartments that were not typical until now - with three bedrooms, because of the need for an extra room as a result of working from home, caused by the pandemic, and more living area", said Stoykova.

According to Bogomil Nikolov, an investor in the GORA project, demand for larger living area has been a trend on the market in Bulgaria over the past few years, and coronavirus has only accelerated the processes.

Inquiries about ground-floor apartments in "gated" residential complexes in the city or nearby areas have increased, while in previous years ground and top-floor properties have been excluded by average buyers. In 2020, the number of transactions with ground-floor apartments has increased by 20% on an annual basis, according to Yavlena realty company data announced by the company's CEO Isabella Klissarska, reports Investor.bg.

Last year, country houses became a hit, with buyers opting for properties with less need for renovation and ready for for moving in. In the last seven months of 2020 Yavlena reported 3,000 inquiries about country houses, compared to the end of 2019 the increase is five times.

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