Fri, Feb 10 2012
Bulgaria's National Statistics Institute (NSI) said that real estate prices in Bulgaria had, on average, risen by 28.9 per cent in 2007, compared to the year before.
Price increases in 2007 ranged between 44.3 per cent in Turgovishte to 15.6 per cent in Yambol, the NSI said.
Ranked by price increase, Sofia was fifth with 35.1 per cent, with Vidin (36.5 per cent), Silistra (38.7 per cent), Pernik (40 per cent), Rousse (140.9 per cent) and Turgovishte ranking ahead of the capital city.
Sofia was still the most expensive place to buy real estate, with an average price of 1813.17 leva a sq m, according to the NSI data.
Though the Bourgas was a close second with 1762.63 leva a sq m.
Other Bulgarian cities where real estate prices were in the above-1000-leva range included Varna, Bourgas, Rousse, Stara Zagora, Plovdiv, Blagoevgrad and Pleven.
The cheapest real estate was available in the Sofia region outside the capital, where the average price was only 488.14 leva a sq m.
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.
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