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Meet Adrian Hristov, one of the leading estate agents in Sofia, Bulgaria. Given the great number of people moving to the capital of Bulgaria (foreigners, students, etc.), he shares more information about tips and tricks when looking for a flat in Bulgaria, what tenants should expect from estate agents’ services as well as his predictions about the real estate market in 2018.
How is the current situation with the apartment hunt in Sofia?
The real estate market in Sofia is the most dynamic one in Bulgaria. The prices rise all the time, because the salaries and GDP of the country (and especially Sofia in particular) also go up slowly but steadily. The demand for accommodation is enormous due to the constant influx of new settlers in Sofia from Bulgaria and from people from all over the world. Fortunately for the real estate market not only foreign students take advantage of the educational opportunities Sofia provides, but also many foreign (mainly European) companies are outsourcing their offices here for many reasons, mainly economical of course. This situation, unfortunately, puts people, looking for cheaper apartments to buy or rent, in an inconvenient situation, because when a nice and affordable property appears on the market it is usually rented within minutes and there are dozens of people trying to arrange it for themselves simultaneously on the spot. The outcome is always different, but we try to arrange the best properties for our customers so we work as fast and effective as possible.
What are the ”tips and tricks” to find a good apartment in Sofia?
Choosing a good real estate agent is the most important thing. Unfortunately, there are no legal regulations regarding the real estate market in Bulgaria so there are many companies which resort to false advertising, charging money for viewings of apartments and all sorts of bad practices. So choosing a reliable agent and real estate company is in fact the most important thing. There are some other tricks to get a nice apartment which of course vary for every situation. I always advise people to be quick with the decision (if of course, the property meets all their requirements), because it could take a moment of delay to lose it…
What are the Dos and Don’ts when looking for an apartment in Sofia?
What you need to do in order to be ready for your apartment hunt is of course to be ready with the necessary amount of money, because time and money are the two most important things a good real estate agent saves for his/her clients. Also, the person who wants to rent/buy a property has to be ready with their exact demands in terms of areas, size of the property, number of bedrooms, budget and other criteria in order for the agents to meet these demands accordingly and as fast as possible. This means that if you are wondering whether to live with a flatmate or by yourself, for example, it would not only put you in a deadlock situation until you have a decision, but it could also result in losing many good options while you hesitate.
A lot of people use an estate agent to find an apartment in Sofia. What do you think should tenants expect in return from estate agents?
People should expect their time, money and comfort to be the realtors’ main priority. The fast providing of reliable, abundant information about every possible offer a client might be interested in is very important in order for the property hunt to be easy and successful.
How do you expect the market to change in 2018?
I’ve been a real estate agent since 2007 and I’ve witnessed many ups and downs in the real estate market for Bulgaria’s top local real estate markets (Sofia and Varna). There is no way to predict how things will change because there are too many factors involved: economy, politics, banks, even the weather can affect the market in a way, so making a long term prognosis on the matter is difficult. My personal expectation is that the prices will probably keep increasing gradually with time. But let us hope that the market will be balanced enough so all the participants can be happy.
Want to use Adrian’ services? Send an email to [email protected] and we will send you a discount code! Also, don’t forget to watch our video about the 10 things you should keep in mind when you rent a flat in Bulgaria.
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