Property prices in the bigger cities in Bulgaria will rise with 10 per cent before the end of the year.
This was the consensus among real estate agents in Bulgaria, actualno.com said.
Property prices are going up daily and there is no reason in the near future for a dramatic decrease, said Toni Mladenova, of real estate agency Bulgaria 21.
There was still a large demand. For some of the offers there were three-four clients, Monitor daily quoted her as saying.
The highest interest was for apartments with a floor space of 60 to 70 sq m, she said.
Prices for cheaper apartments would rise most over the coming months, specifically those in panel blocks and older brick buildings outside the central areas of the cities, expected Valeri Leviev of agency Elta Konsult. Their prices would rise with about 10 per cent till the end of the year.
New apartments would rise in value with a smaller percentage. Newly constructed real estate would not become more expensive, he said.
He did not believe the market is afraid of a price balloon, Leviev said. The Bulgarian economy was growing, income was growing and the bank system was stable. Real estate in Bulgaria was cheaper than in most Central en East European countries, he said.
Some of the agents are expecting higher price increases. Tihome Tsakov, manager of agency Aristo, thought property prices in Sofia would go up with 20 – 25 per cent.
