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Bulgaria ranks high in global house price league

Article Date : Monday, March 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

Bulgaria has been ranked sixth in a new global house price index, which measures the performance of 33 countries from around the world.

According to UK property service company Knight Frank, Bulgaria saw 13 per cent growth in the last quarter of 2006.

However, this figure is lower than the 21.6 per cent recorded in 2005, when Bulgaria ranked number two in the price index.

Knight Frank said that house price growth is beginning to decline in most locations, particularly in Europe where interest rates are beginning to rise.

Despite this, eastern European countries, such as Bulgaria, Poland and Latvia, are still dominating the top of the growth table.

"Growth in prices here reflects wider mortgage market reform and rising wealth in expanding economies," stated the firm.

The accession of Bulgaria to the EU has made the country much more appealing to British investors, who are attracted by the prospect of a stable economy, according to property magazine Homes Overseas.
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