Real Estate Federation has launched a series of webinars to gather the opinion of professionals

The International Real Estate Federation has launched a series of webinars to gather the opinion of professionals. The aim is to understand and analyze how the pandemic will affect the individual segments of the real estate market in the short and long term.

Housing market

The decline in the number of real estate transactions in Bulgaria is a result of the general stupor - the daily morning briefings, portions of restrictions, and instructive instructions on what we can not do. It was natural for this to affect the emotional state of those who were at some intermediate stage in choosing a home.

According to the Registry Agency, the contracts for purchase and sale of real estate in Sofia have decreased by 38% for the period March 13-31 compared to the same period last year. And only for the last week of March, the decrease is by 50% on an annual basis.

There is depression in the residential segment and it will not disappear quickly and easily. The most affected will be the speculative projects, which are built simply with the idea of providing quick and easy profit. Quality properties that provide an adequate environment and are well planned and maintained will continue to be sought after.

Housing will continue to be the most interesting segment of real estate, because the homes we live in must meet far more functional requirements for comfort, accessibility, utilities and modern services.