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Bulgarian property to see 10% price rise

Article Date : Tuesday, June 26, 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

The Bulgarian property market is expected to see prices increase by ten per cent over the course of the year, according to one local estate agency.

ERA Bulgaria told investor.bg that the residential property markets in some of the country's largest cities would experience significant price rises this year, the Sofia Echo reports.

The company stated that during the first quarter of the year, houses in Sofia went up in value by 16 per cent and the market in Varna saw prices rise by 18 per cent, compared with the final quarter of 2006.

Last week, Justin Figgins, head of RightmoveOverseas, said that Bulgaria was one the best performing markets in the world, with properties in the most popular areas having seen price rises of up to 40 per cent in 2005 and 20 per cent last year.

According to Mr Figgins, greater economic stability should see affordable mortgages become increasingly available to investors.
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