Bulgaria prices 'at market value'

The average price of property in Bulgaria is now close to reaching its real market value, it has been stated.

Speaking to Darik Radio, chair of the National Real Property Association Lachezar Iskrov said the level of prices was now close to being the right one, although he could not say when prices will begin to rise again, Novinite.com reports.

Mr Iskrov listed a number of places as being good ones for property investors to buy in.

He commented that most investors look for two-room apartments in Sofia, with the best districts to buy in being Lyulin and Druzhba for mid-range property, while South Park remains the most prestigious.

Mr Iskirov stated prices for good properties are now at around €1,000 to €1,200 (£1,034) per sq m.

The cost of a mortgage for those buying a property in the country may have fallen for many after a recent base rate cut.

Bulgaria's central bank trimmed its base rate at the start of last month from 3.53 per cent to 2.27 per cent.