Housing market demand still outstrips supply

05.03.2008

Demand continued to outstrip provide on the Bulgarian housing market last year, fuelling a 30-per cent increase in residential prices, local property agency said in its 2007 market overview.
Central areas of large regional cities were suffering the greatest under-supply, sending buyers in search of options in the suburbs.
The demand/supply gap has also been identified in the market research of other major real estate brokers, Dnevnik daily reported on March 5.
Real estate agency said that last year saw a significant pick-up in demand for homes in the vicinity of major lifestyle, office or transportation hubs like metro stations and business parks in Sofia and the shopping districts in Varna.
The agency has foresee a 10-15 per cent increase in housing prices in the big regional cities in 2008 while demand for suburban housing will stay buoyant.

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