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Seafront Apartment Cheaper than Garage in Sofia

Date: 29.06.2006

Luxurious seafront apartments in the resort of Sunny beach already sell at 500 euro per square meter, whereas a garage in the center of Sofia sells at 600 euro/sqm.

The reason for this situation is the fact that about 50 000 apartments and houses at the southern Black Sea coast are declared for sale, but there aren't enough buyers, whereas only 400 garages in Sofia are offered for sale.

The prices of real estates at the seaside are collapsing like sand towers because of the building boom, real estate agents said.

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