Real estate prices in Sofia have doubled

Real estate prices in Sofia have more than doubled for the past 14 months and they are expected to continue rising.

70% of the deals are for two- and three-room apartments. They are also the most expensive, Vasil Lyunchev, an analyst of the real estate market, told BNR.

"In March 2021, the average price of a 3-room apartment in Sofia was 80,000 euros. In May 2022, the price reached 175,000 euros. This is the average type of apartment most often sold in Sofia,"  Lyunchev says. High inflation encourages people to invest in property. But an expected rise in mortgage rates could cool the market down, experts say.