The city center of Sofia is attracting medium to high income buyers who are looking for luxury apartments in prestigious areas. The main problem for this demographic is that attractive locations like the Izgrev, Iztok and Lozenets neighborhoods, is that they lack garage space, says Kaloyan Bogdanov, marketing manager of Address Real Estate. He warns that wealthy buyers tend to have two cars and that until recently, his company has had little to offer them.
But new projects are now underway that will meet such demand. The prices for the new apartments are as much as €95,000 for a one bedroom apartment, while a single parking spot in a garage can cost as much as €13,000.
