Fri, Feb 10 2012
The first 2007 issue of PropertyWise, the specialised real estate magazine of Sofia Echo Media, is already available online.
At www.propertywisebulgaria.com readers can learn more about the impact that Bulgaria's EU entry had on the local property market.
On January 1 2007 Bulgaria achieved its long pursued goal and became member of the EU. Real estate agents predicted that the accession will cause a new property market boom. Expectations of the development led to market growth in advance.
PropertyWise tries to find out if these predictions came true. All of the analyses, interviews and reports are already available free of charge at www.propertywisebulgaria.com.
To enrich its content the website also features daily news about the latest property developments, statistics and deals in Bulgaria.
PropertyWise is a bi-monthly publication, coming out the last Friday of every other month. For more information visit its website www.propertywisebulgaria.com or write to editor@propertywisebulgaria.com
Average market prices of homes in Sofia fell by one per cent in the fourth quarter of 2011 compared to the same period of 2010, according to the Raiffeisen Real Estate Index, as quoted by Klasa daily.
Proportionately, the number of transactions in leva increased as people reacted to speculation that the euro would disappear.
Nearly all banks are ready to finance between 80 per cent and 90 per cent of the price of a home, provided it is a good building in a large city, Bulgarian daily says.
Property prices in Bulgaria were five to 10 per cent lower in 2011 than in 2010, while initial estimates for this year are that they will remain largely unchanged, with transactions remaining at ‘crisis levels’.
Bulgaria’s capital city Sofia ranks 17th, report says, quoting Global Property Guide.