Sofia, the capital of the Republic of Bulgaria is one of the oldest cities in Europe with rich history. Motto "Grows but does not age" accurately describes Sofia, which due to internal migration of population and urbanization in recent years, according to unofficial data there are about 2 million inhabitants. Increased population, depletion bandwidth of the street network and increasing intensity of traffic in Sofia are the reason why Decision of the Council of Ministers and the decree of the National Assembly of the Republic of Bulgaria to start building a subway in Sofia, which is owned by Sofia municipality. The main task of the subway in Sofia is to make fast, convenient and safe transportation of passengers in the busiest areas in the capital, a transport capacity of the subway is 50 000 passengers per hour. Exactly these busiest areas of the city are situated in three major metro diameters of subway lines in Sofia.
What impact does the subway station in Sofia have on property prices?
The location is a major factor of the price of a property, or in other words, the transport accessibility of a property plays an important role in the selection and purchase or rental of a property . Undoubtedly, the subway, as the fastest and safest public transport, definitely has advantages over the other types of surface transport. In recent years, the interest in the market of real estate which are near a subway station in Sofia has increased and this trend will continue in the coming years because the underground transport is developing at a very rapid pace. Development and expansion of the Sofia metro has a huge impact on the investment plans of developers . The interest, however, is not only in the construction of residential property. Metro stations attract investors in commercial buildings, especially those who put their money in shops because of the huge flow of people formed near the metro station in Sofia which is a guarantee of a long - lasting investment, the return of the equity and good profits.
Property for sale near a subway station in Sofia!
Daily in our company Cash4BulgarianProperties email enter dozens of inquiries from customers (investors) who want to buy an apartment near the subway station. The main interest of our buyers is concentrated in properties like:
- Este Home & SPA
- City Park Residence
- Solaris Complex
- Casa Viva Complex
- Stamboliiski Bridge Complex
- Florimont Complex
- Pearls Complex
- Sofia Gardens Complex
- Vitosha Tulip Complex
- Silver City Complex
Analysis of the criteria and requirements of the buyers (investors):
- Homebuyers looking for properties that meet minimum standards for clear height, room size and floor plans. Properties with very small rooms (below 10 m), low ceilings (below the standard minimum), irregular shapes of the rooms are usually sold at a discount from the typical prices per square meter in the building in order to be attractive .
- The size of the common areas, especially the type and size of the elevators are becoming more important for investors.
- Maintenance of the common areas is a question that most buyers paying attention, this is the most anticipated additional service, followed by the presence of security guards, CCTV and access control entry or complex.
- House prices between the subway from "Obelia" to "Mladost 3 " and also for the new metro lines range between 500 Euro / sq.m. and 1500 Euro / sq.m. It is quite normal property prices, which are in the central part of Sofia to be the highest, while in the suburbs like " Vrabnitsa " and " Obelia " to be lower. In the future, each metro station in Sofia will play a key role in the added value of either the residential or the commercial area.