Nearly a quarter of people interested in buying luxury properties are mainly keen on investing in them to boost their value and subsequently sell them at prices considerably higher, in the context of market growth.
Regatta Real Estate president, Eduard Uzunov, said in a statement there are investors who buy an EUR600,000 house, for instance, invest an additional EUR500,000, and subsequently manage to sell it for nearly EUR2 million.
Prices are significantly lower than in 2008 on this segment. According to Uzunov, in 2008, apartment prices ranged from nearly EUR5,000 per square meter to EUR8,000.
The latest trend on this segment is buyers’ wish to purchase properties already equipped by architects and designers in order to move into the new house as soon as possible.
Regatta Real Estate reported a turnover of EUR1 million in 2015, and expects a 50% increase, up to EUR1.5 million, in 2016.