Residential prices of Property in Bulgaria - New House in Bulgaria for sale, Houses in Bulgaria, rise 10-15% in January and February 2007, a growth rate previously expected to be achieved over the full-year period, said local realtors. The market of Bulgarian Properties seems to have skipped the traditional January lull and business is as dynamic as December .
The momentum from the back-end of 2006 has carried over into the first months of 2007. The realtors said the buyers were still keen to take advantage of Bulgarian properties / New House in Bulgaria for sale, Houses in Bulgaria / prices which continue to lag EU levels. The same argument is used by sellers to jack up their price offers of Property in Bulgaria .
The experts concur there will be no downward correction in 2007 due to strong demand. According to some Property in Bulgaria agencies, new house in Bulgaria for sale and houses in Bulgaria have added 6-8% in eight of Sofia's residential districts. In addition to property in Bulgaria in the city center, the biggest increases were recorded in Krasno Selo and Lyulin.
The prices of the houses in Bulgaria in the center of Burgas rose from 800 to 1,000 euro/sq m. Brick and newly-built Property in Bulgaria - houses in Bulgaria , new house in Bulgaria for sale in Varna have appreciated by 5% so far in 2007. The price of pre-fab houses in Bulgaria , Sofia, Varna and Burgas is unchanged from the end of 2006. The local banks are adding to the pressure on houses in Bulgaria prices with the marketing of various lending and otherwise incentives. According to the lenders, they finance 80% of property in Bulgaria buys.
INVESTORS IN BULGARIA PREFER OFFICE PROPERTY in Bulgaria MARKET
Deals with office and trade sites in 2006 represented 83 per cent of all investment in property in Bulgaria , a report of international consultancy company CB Richard Ellis showed.
The total volume of major Bulgarian properties investment deals in 2006 amounted to nearly 600 million euro, which is double the funds invested in property in Bulgaria in 2005, Capital weekly reported.
Investment made in office space ranked first. The sale of Business Park Sofia was the biggest deal in the sector amounting to 180 million euro.
The largest number of Bulgarian Properties deals was made in Sofia. Nearly 15 per cent of the deals occurred outside the capital with the sale of Central Mall in Veliko Turnovo being the largest one.
The interest in Bulgarian propertis market will remain unchanged in 2007 but the volume of deals will see insufficient increase, the specialists said.
Most of the investors are companies with long-term plans, looking to buy property in Bulgaria shortly before their construction is finished.
Agents' forecast for 2007 is that more European companies and funds will be searching for opportunities to invest in low-risk products – Bulgarian properties . Competition in the sector will, however, make them search partnership in the first stage of the projects to guarantee security if the property in Bulgaria is sold. |
