Price of Residential Property in Bulgaria up 7% in Q1
Prices for the residential properties in Bulgaria registered an increase of about 7 percent since the beginning of the year, data of the National Statistical Institute show.
The average price paid for residential places across the country reached EUR 1300/m2 in the period January - March 2008.
As it was earlier announced, the most expensive properties are those in the capital city of Sofia as their prices are expected to continue their upward march and their annual growth by the end of the year is forecast to range between 10% and 20%.
The growth in prices can be attributed to the brisk demand by well-off people and insufficient supply.
Investors’ interest is high in developments in the big cities, particularly in the capital Sofia and the Black Sea town of Varna and Burgas, which register the highest residential property prices.
The average price of the residential properties in Bulgaria stood at EUR 737/m2 in 2007 compared to EUR 624/m2 in 2006.
Capital Sofia, which boasts the highest salaries in the country, benefited from the real estate boom and recorded the highest rise in prices last year - 25%, reaching an average price of EUR 835/m2.
August 14th, 2008 at 3:46 pm
Investing in Bulgaria is a good decision. For first 6 months on 2008 the appreciation of properties in second Bulgarian largest city (Plovdiv) is more than 20%.
November 10th, 2008 at 5:09 am
Good post.
November 13th, 2008 at 1:00 am
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