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Consumption driving growth in Bulgaria

Article Date : Friday, June 01, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Strong economic growth in emerging European countries such as Bulgaria has led to a rise in occupier demand following an increase in investment by firms, it has been revealed.

The bi-annual Global Property Survey from the Royal Institution of Chartered Surveyors (Rics) has found that occupier demand for retail space was growing at its fastest pace for two years in Sofia, with residential property also performing well.

The number of properties for sale in Bulgaria has risen by 50 per cent in just six months, according to the Sofia Echo, with 80 per cent of external property buyers coming from the UK and Ireland.

The Rics study emphasises the similarly healthy state of the commercial property market, with capital values in Sofia increasing across all sectors.

"In some regions of Britain, notably the north west, Midlands and Wales, property buyers were even more interested in buying in Bulgaria than France," advised Chris Goodall, managing director of Quest Bulgaria magazine.
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