Home » Business

Apartments in Sofia – more expensive than Chicago ones

Submitted on Friday, 13 March 2009No Comment

“Apartments in Sofia and Plovdiv, as well as in several popular Bulgairan resorts being more expensive than apartments in the center of Chicago isn’t normal”, said one of the best known businessmen in the field from Bulgairan origin in the US Shefket Chapadzhiev, who deals exclusively with estates.

“The estate market, including the one in Bulgaria, will be regulated once again despite the temporary decline because of the crisis”, says also Chapadzhiev.

He said that it would be very profitable to invest in estates in Bulgaria, but a certain artificial increase of prices of estates in major Bulgarian cities and resorts is a major concern at the moment.

“If I have to invest in Bulgaria, it’s exactly estates I would invest in, but I’d be extra careful in what I purchase”, explained the businessman for Darik radio.

“Mortgage credits, covering 100% of the price of estates, which were given out by banks for several years are the base of the global financial crisis”, said Chapadhziev.