Real estate brokers: Business with sale of garages to die away

The amendments to the Spatial Development Act, prohibiting the use of garages and parking lots of residential buildings for any other purposes than parking and the ban on their selling and renting if these are part of the building will have a positive effect on the situation in the towns. This position was shared by leading real estate brokers in front of Klassa. The amendments were approved by the Council of Ministers some days ago.

According to the brokers, the effects will be felt by everyone because cars will no longer be parked on the pavements and the price of garages and parking lots will normalize. According to Polina Stoykova, COO of Bulgarian Properties real estate company, the amendments will hardly affect the property market, because buyers of housing usually ask about the availability of a garage or a parking lot. The presence of a parking place or garage additionally raises the price of the real estate. There is hardly any significant activity on the market of garages alone, she was adamant. Their prices are up to €15,000-20,000, approximately the same as these of cheaper flats.

Kaloyan Bogdanov, Marketing Manager of Address real estate agency, was of the opposite opinion. According to him, the legislative amendments will stagnate the market, which stirred up considerably after the recent boom in setting vehicles on fire. The people who have not used their garages so far were able to realise them at good price levels, while others had found a long-time solution for their cars.

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