Property Prices Keep Increasing in Sofia & Varna
Prices for various types of real estates in Bulgaria's capital Sofia has increased with between 10% and 17% since the turn of the year.The growth in prices can be explained with the brisk demand by well-off people and insufficient supply, estate specialists explained.
Property prices in the capital are expected to continue their increase and their annual growth by the end of the year is forecast to range between 10% and 20%.
Investors' interest is high in developments in the big cities, particularly in the capital Sofia and the Black Sea town of Varna, which now have some the highest residential property prices.
The average price paid for residential properties across Bulgaria was 750 Eur/m2 in 2007 compared to approximately 620 Eur/m2 in 2006, according to real estate companies.
Sofia, which has the highest salaries in the country, benefited from the real estate boom and recorded the highest rise in prices last year - almost 25%, reaching an average price of around 800 Eur/m2.
The first thing I want to say is, thank you Kiki for all you have done. The first time we spoke to Kiki we felt right at ease. Because we didn' t know how or when we were going to be in Bulgaria we didn't let her know. So when we got there we contacted Kiki. Because we were only there for a week we didn't have much time. She immediatly made sure we could visit a house the same day. She called us crazy because it was 400 km from varna were we stayed. But we went. She could not be there with us because it was such short notice, but the next day she was. Kiki cleared her calender to make sure we could look at some other houses with her. Besides the fact she showed us some good houses we also had a lot of fun. When we went to see the last one it was bingo. So we would buy the house. Kiki made sure a paper work was oke before we left back to Belgium. Now not even a month later we can call ourselfes the proud owners of a house in Bulgaria. What Kiki did for us was amazing. Everything went smoothly without any problems. She is a hardworking woman,(sometimes to hard working), she makes sure everything goes smoothly. And besides that she is a great person. We know we have a new friend for life. When we buy our next house it will be with Kiki. So again Kiki thank you, you are amazing
— Bart en Annick, Belgie