Sun, Jul 05 2009

EU ACCESSION INCREASES RESIDENTIAL PROPERTY PRICES IN BULGARIA

Wed, May 02 2007 09:06 CET 259 Views
EU ACCESSION INCREASES RESIDENTIAL PROPERTY PRICES IN BULGARIA

The price increase of residential property in Bulgaria after the country's EU accession is sufficiently higher than expected, research ordered by investor.bg showed.

The price hike concerns both old and new construction in Sofia and in other bigger cities and towns.

The prices per sq m went up three to 12 per cent in Sofia's residential disitrcts of Lyulin, Mladost and Nadezhda.

In some parts of the residential districts, prices wend down by four to five per cent. The growth difference was attributed to the willingness of some property owners to sell their apartments at much higher prices than the normal values.

Residential property prices in the other towns remained almost unchanged in the past four months. Only some parts of the coastal cities of Varna and Bourgas experienced more tangible price increase.

According to an online poll of investor.bg, 30 per cent of the Bulgarians think that EU membership led to a sufficient increase of residential property prices. Another 17 per cent said that the increase was insufficient and 22 per cent said that the increase concerns only some regions of the country.

Write comment

Name: Comment:
Send your comment

More in this category

Super Bourgas project is launched

The project will be financed by the Bulgarian Bank for Development, and the Joint European Support for Sustainable Investment in City Areas, or Jessica Programme, although the report has so far failed to reveal the total cost of the vast enterprise.

Varna aims to protect green areas with new legislation

The strategic plan envisages the conservation of the nature "for decades ahead", and it was formulated by a municipal team headed by professor Ivan Nikiforov, backed by Prime Minister Sergei Stanishev.

Construction of the new Sofia to Vidin railway line must start by 2013

Once the overhaul and reconstruction of the Sofia–Vidin line is complete, it will cut travel time to three hours, as the train will be able to reach speeds of up to 160 km/h, shortening the journey to three hours.

Marriott to enter Bulgaria with three of its brands

Marriott however has made it clear that is not interested in investing in construction, but rather to occupy and manage existing buildings. Its strategy is to obtain management contracts.

Colliers International: vacant office space in Bulgaria on the rise

Investors realise that it’s not viable to have a building remaining empty over the course of a year – so it's better for them to employ more flexibility to offset that loss.

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.