Rita Yotova and Mincho Pachikov: Clients are becoming more exacting

Rita Yotova and Mincho Pachikov are respectively marketing and sales managers at Development Capital Management Bulgaria, the company managing the Black Sea Property Fund (BSPF), a UK-based real estate investment company. The latter has projected the development of the luxury gated community Evergreen located in Sofia's district Malinova Dolina.

People perceive prime properties in different ways. Nowadays, most of the customers see the meaning of luxury in the comfort of well-developed social environment. So, location, access, architecture, materials, quality and living conditions are vital for these people. The fact that most clients prefer gated communities, the ones which provide all necessary services, to stand-alone houses proves it. We don't sell simply square meters to our clients but a whole, completed product. And when high quality is in line with price, then demand appears.
The fact that luxury property supply is increasing means buyers have become more demanding, informed and picky and requirements for quality are rising as well.
Prime homes are low-risk investments. This is also indicated in the global experience - even when crises appear, these properties retain their values. And even though the global credit crunch has affected foreign direct investments in Bulgaria in a way, it has failed to produce any impact on our residential market.

Read more:
Residential market: luxury is in demand!
Konstantin Bobchev: Luxury residences reach a healthy balance between price and quality
Nikola Stoyanov: A luxury real estate market exists but demand is limited
Vesela Ilieva: Prime property is unique and special
Stoyan Hristov: The market needs rental properties
Arch. Vesela Miryanova: Sofia lacks symbolic residential buildings