Property survey reveals some markets still booming

A survey by international property firm Knight Frank has revealed a mixed picture around the world for property price appreciation.

While the overall level of property price rises is down from 6.1 per cent in the first quarter of 2008 to 4.8 per cent in the second, there are still eight markets in which prices are not only still rising but are still seeing growth of ten per cent or higher.

These include Bulgaria at 32.2 per cent and Cyprus at 12.9 per cent, which was up from eight per cent a year earlier.

In addition to this, Spain is still seeing overall growth of 2.4 per cent, with price falls mainly concentrated in the coastal areas and in new big city developments.

Some individual countries have also seen a varied picture, with many places in the USA seeing falls but some states seeing rises, such as Oklahoma at 4.9 per cent.

News that Bulgaria is still growing quickly comes as a new major residential development is unveiled.

Spanish firm Herceska International has announced it is to build a gated community with 2,000 apartments near the capital city, Sofia, reports Property Wire.