Studio flats in Bulgaria likely to be popular this year
The number of individuals looking to buy property in Sofiya-Grad, Bulgaria, may be set to rise, it has been suggested.
According to real estate consultancy Address, the demand for smaller homes in the country could be set to increase later this year.
Address claimed that studio flats are making up 34 per cent of its total sales in Bulgaria so far this year.
It predicts that because of a shortage of the number of small properties being built, supply is falling behind demand.
"The supply of such types of studios is decreasing while new construction for the moment is rather dormant," explained the company's marketing manager, Kaloyan Bogdanov.
"This is likely to create a demand that is likely to surpass initial forecasts."
However, despite this positive sign, the agency is wary about announcing a full market recovery in Bulgaria and stated that a rise in property value is unlikely to occur until the second half of the year.
Bulgaria was recently named as one of the best destinations for overseas investment in 2010 by Property Venture.
