“All segments of the real estate market are rapidly developing, that is why it is difficult to say which ones have the most potential,” Vladislav Damyanov, Nike Investment Group marketing director, said in an interview for Profit TV.

We expect a boom in quality real estate projects – i e projects with good planning, quality materials and good marketing.

There is no clear definition for “luxury home”, he added. Until recently, people in Bulgaria used to think that all apartments situated in the downtown area and newly furnished were luxurious. But this is no longer the case and people are starting to demand more for their money.

A lot of space, a good view and quality thermal insulation are just a few of the necessary characteristics of a “luxury apartment”. The energy parameters of the building are also important, as well as good property management.

In Bulgaria, owning your home is a matter of prestige and a sign of success, while in other countries renting is more popular. Interest rates in Bulgaria are high, Dayanov said, and in some cases the interest rate people is equal to a monthly rent.

More Bulgarians are buying properties as an investment these days, which indicates a rising living standard.

A categorization of homes needs to be established in Bulgaria. Several high quality areas are to be determined in Sofia, most of which are actually outside the city.

Zone B4 and the area between Opalchenska Blvd and Todor Alexandrov Blvd are two areas with the potential of becoming high category ones.

Another tendency we are seeing these days is that the number of foreign buyers is decreasing. The withdrawal is to some extent compensated by the rising activity of Bulgarian businesses, which may be descried as a good thing as those businesses operate with local money.

Nike Investment Group is a company investing in real estate. Although it is a young company (on the market for two years) it has well established positions and relations with both local and foreign investors.

Nike Investment Group has participated in the construction and design of many large projects in Sofia, such as Mall Of Sofia, Sofia City Center, the new terminal of Sofia Airport, as well as malls in Varna, Burgas, Yambol, and Pleven.