The purchase of a home is increasingly determined by the presence of a garage. As paradoxical as it may sound, many clients compromise on location and head to areas with new construction, because there they have the opportunity to buy a garage or at least a parking space with the home, analysts comment.
The search for a parking space in the center or neighboring neighborhoods, where the intensity of construction is extremely high, practically turns off many potential buyers of properties in these areas. The advice of intermediaries is that when buying a home in a new building, it is mandatory to buy a parking space. “Even those who do not have a car will eventually find a tenant for this parking space 100% of the time and will quickly recoup their investment“, brokers are categorical.
Proof of the huge deficit of garages in Sofia is that currently only 520 garages and parking spaces are offered for sale, according to data from the largest real estate website imot.bg. Of these, only a few over 30 are located in the center of the capital. Prices start at 22,000 EUR for a parking space on ul. “Sredna Gora“ and reach up to 75,000 EUR on the streets “Budapest“ and “Benkovski“.
The most expensive offer is for a double garage on the capital's “Carnegie“ street (ed. note. near the National Palace of Culture) - 130,000 EUR. It is located on the second underground level. Their total area is 75 sq.m.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be found HERE