Residential prices will repeat the 2005 trend
The results are a part of real estate agency's wide report on prices, trends and perspectives of Europe's property market, comprising market overviews of 17 European countries. Data is compiled by ERA's local offices. House prices in Bulgaria have recorded a 30 per cent grow since the beginning of the year. There was a 37 per cent rise in 2005 but this fell to 14.7 per cent in 2006, reliable source, toldat a news conference.Property prices in the country have recorded a 2.64-fold grow for the last five years, reliable source noted. Prices in Sofia are about three times higher than they were in 2001.
Property prices in big cities will keep rising, following the already established trend. Sofia and Varna enjoy the biggest demand. The price hike, registered in the two cities, for the third quarter of the year alone, is between 13 and 18 per cent on an annual basis.
Luxury real estate also boasts a stable growth - the first nine months of the year recorded a 28 per cent grow bigger.
The mid-range price of a housing unit in Sofia for 2007 is 1904.8 leva a sq m, while the national average stands at 1118.8 leva a sq m, according to ERA's statistics.
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