Established in 2018, Vaya Estates is a brokerage that since day one has strived to offer client-oriented type of service. Today, this translates into a diverse portfolio of properties for sale, trusted partnerships with reliable developers, property management services and an own interior design studio. Tsvetomir Partalozov, manager, shares more.
What does client-oriented real estate brokerage mean in 2022?
One that offers a complex service. The client should be able to not only buy or sell property with the help of the brokerage. The brokerage should also offer help in negotiating a mortgage under the best conditions on the market and to provide legal assistance. Buyers today are increasingly eager to hire an interior designer but are at a loss who to choose. After the deal has been successfully closed and there is a mutual trust between all stakeholders, it would be easier for the client if the brokerage has a department or even an interior design studio that can provide this type of service. Client-oriented brokerage should have the capacity to work with property developers and to not only sell their projects but to offer them full project management.
Who are your clients?
Mainly property development investors. The clients who buy real estate with our help are usually aged 30-50 who seek a new home. We specialise in mid- and high-class properties.
What are the trends on the property market in Bulgaria in 2022 and what do you expect for the future?
In 2022 we are witnessing increased demand for finished residential properties or ones that will be finished soon. However, the supply of such properties is limited or the available ones are at prices that go beyond the levels which clients are psychologically prepared to pay. This forces them to wait longer before choosing a property. They are active on the market, they are interested and are ready to buy. They often take courage and again, choose to buy a quality project which they recognise as a safe one.
This year speculative deals decreased significantly, which is a good sign. In 2023 we expect that the customers who move the market in bigger cities will get used to the higher prices. Big employers tend to increase the wages in order to retain their employees, who on their part get more active on the labour market as they want to preserve their present standard of living. This is normal, as the inflation has affected everything and everyone. Thus, the algorithm that includes the wage and the price of a square foot of property will get back to normal. In 2023, everyone will realise that the mortgage interest rates will begin to gradually increase. This will be a burden for buyers with tighter budgets and strictly defined monthly mortgage payment who cannot afford even minimal increase in payment. The rest will satisfy their need for a new home despite this and will wait for the right moment to renegotiate their mortgage – this is clearly in the future.
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