The demand for real estate in Sofia will continue to grow, according to the market analysis conducted by real estate investment company Karrat Group Ltd. The property investment experts at the firm claim that there will continue to be great demand for new construction, mainly of modern office and residential complexes.
The company is currently developing its ambitious project City of Fountains, a complex with 18 residential and 2 office buildings, with a total of 750 apartments, aimed to provide unique location, design, and unrivalled amenities and offer property seekers and investors something completely different from everything that has been done in Sofia before.
The first phase of City of Fountains will be completed in 2009 and is located in Sofia’s modern Mladost 4 Residential Area, with excellent transport connections to the city centre, the Vitosha Mountain, Sofia airport, and Sofia Ring Road, providing easy access to virtually any part of the city. It will offer superb landscape, exterior, and interior design, and will be the only complex with spacious green recreation areas and fountains running throughout its grounds.
The wide range of amenities in City of Fountains will include numerous sports facilities, such as a large fitness and spa centre and a swimming pool, an on-site kindergarten, an apart-hotel, a shopping centre, restaurants, cafes, and many others, which will make it an unmatched place for spending free time, a favourite location for meeting friends or for relaxation.
Apartments are still the preferred property type in Sofia, Karrat Group claims. There are however some emerging trends, such as the preference for complexes rather than isolated buildings, and for some new types of property, such as the ‘loft’ apartments, very popular in other parts of the world but still not known in Bulgaria.
Another clear trend in Sofia’s real estate development is the requirement for many amenities inside residential complexes. This is the result of the changing lifestyle of the capital’s residents. Today’s typical home buyers are successful professionals or families with hectic daily life, but also with versatile pastime interests and very high expectations.
