Bulgaria will be one of the top property markets in Europe during 2006, according to a research by the Chinese publication, The South China Morning Post. Property prices in the country will increase by 15 per cent, the highest increase a European country will experience in the coming year. Consultants from Knight Frank consulting company predict that though Bulgaria needs to develop further, the country will experience dynamic interactions in 2006. Apart from its expected EU membership, the country is developing its infrastructure, which in turn will increase property prices. Prices in France and Italy will increase by only five per cent. Significantly higher growth is expected for Hungary and the Czech republic, according to the publication’s prognosis, Dnevnik newspaper reported.
It also predicted that the property market throughout Eastern Europe would experience growth, while Western European countries faced a slower growth rate. Most Western Europeans interested in the property market were likely to invest in Eastern Europe.