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Belgrade Leapfrogs Sofia in Residential Prices

Date: 17.11.2006

Belgrade is overtaking Sofia with higher levels of residential prices, statistics show.

The middle segment of the residential market is the most active, with three-bedroom apartments in highest supply, data of local real estate shows.

Prices have reached levels from EUR 800/m2 - EUR 1500/m2. Floorage varies between 60 to 80m2 and rarely goes up to 90m2. Supply is concentrated in downtown Belgrade, where an apartment of 76m2 is offered at the price of EUR 88,000.

In Bulgaria, the average asking prices for residential property varies between EUR 500/m2 - EUR 900/m2, according to data of local real estate site imot. bg.

The market for office premises in Belgrade also sees a brisk development and offers prices higher than those in Sofia.

The land in Sofia, however, retains higher price levels in comparison with Belgrade - EUR 900/m2 against EUR 500/m2.

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