Residential Prices in Bulgaria Up by Up to 15% in 2007
Residential Prices in Bulgaria Up by Up to 15% in 2007 << Back to list of articles
Average price levels of residential properties on the middle market in Bulgaria will increase by 5% - 10% in 2007, the first year of the country's EU accession, experts say.
Luxurious newly built apartments and properties at key locations will command a higher increase in prices - an average of 15%, according to realtors' forecasts, cited by 24 Hours daily.
Low prices, long-term investment prospects and changes in lifestyle fuelled record-high property sales in Bulgaria for 2006.
The year-end count of transactions is forecast to reach 260,000 at a combined value of more than EUR 5 B, according to figures of BulgarianProperties.com, partner of foreign property buyers in Bulgaria.
The experts comment that following the massive 25% to 30% annual capital gains of recent years, Bulgaria's property market is now showing a much more realistic growth rate of 15% so far this year, setting the pattern for more predictable and sustainable long-term investment.