Real estate appraisal
Property rate adjustments set for 2025
The next adjustment of property rates used for tax purposes, known as "objective values," will take place in 2025 with a new automated assessment system.
Although the existing values are already considered outdated, they will be maintained for at least another year.
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Market Watch: Bulgaria's Real Estate Prices Make a Quiet Move
As the warm summer months gave way to autumn, Bulgaria's real estate market witnessed a subtle shift. According to the latest analysis by "Arco Real Estate," a mild decline in housing prices was observed during the third quarter of the year. The data reveals that prospective homebuyers are approaching the market with increased sensibility, opting for prudence over impulsive decisions.
One-bedroom Apartments Remain Most Sought after in Sofia
The growth of real estate prices is slowing down, and for the third quarter of the year, it is below 6%.
The average price of properties in the third quarter of the year is 1,550 euros per square meter, resulting in an average total purchase price of 137,000 euros.
Luxury holiday home prices at decade high
Sale prices for holiday homes on the popular islands of the Cyclades are on a decade high, as the losses recorded in previous years have been more than covered.
The trend is upward and will remain so in the near future, according to this year's Holiday Home Price Watch, curated by Geoaxis, a company of certified real estate valuers.
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Realty Prices on Bulgarin Black Sea Coast Go Up
80% of the purchasers of holiday properties along Bulgaria's Black Sea coast are Bulgarian nationals, indicate data of experts from a large construction and investment company. "The travel restrictions stemming from the coronavirus pandemic and the uncertain economic environment made a number of people take action and buy properties.
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Belgrade is the 4th most expensive city in Europe – what’s missing?
All those wondering these days if they can afford the luxury of buying an apartment in Belgrade, which according to one research is the fourth most expensive European city in terms of real estate prices in relation to the average income, have no reason to worry. As explained from real estate professionals, the methodology according to which the research was done was quite questionable.
New ENFIA cut may be put off
The scenario concerning the postponement of reforms to the real estate market's taxation system is back on the table. Given that the coronavirus pandemic has locked down economic activity and reduced property transfers to a bare minimum, the argument that it is impossible to make correct valuations of property values is increasingly gaining ground.
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Home sales on Greek islands jump
Holiday home transactions on selected islands of the Cyclades recorded a 54 percent annual increase in the first half of the year, according to an analysis of data from the Property Transaction Value Register of the Finance Ministry's General Secretariat of Information Systems.
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Housing Prices in Sofia Froze, Growth of New Construction Purchases
Housing prices in Sofia have frozen. According to information from Bulgarian Properties during the first three months, the average price in the capital is € 1,080 sq. M, compared to € 1,085 sq. M in the last quarter of 2018.
New revision of objective values is planned
The Finance Ministry committee responsible for the adjustment of property prices used for tax purposes - known as "objective values" - will head back to the drawing board after the summer holidays.
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