Bulgaria Property News - Peak Moment in Bulgarian Real Estate Market

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Bulgaria Property News - Peak Moment in Bulgarian Real Estate Market

The situation on the real estate market in Bulgaria shows that supply has increased by 50% over demand in the last two months which quite logically affects real estate prices.
A major factor, influencing the price of real estate is the world real estate crisis and economic development in the different regions of the country, executive director of "Address real estate" Katya Cenova said at a press conference dedicated to the real estate market in the country.
The average price of real estate in the country is 914 EUR per square meter for the first half of the year, which represents a 21% increase in comparison to the second half of 2007.
The second city with highest increase in the country is Ruse. Real estate there is about 713 EUR per square meter.
It turns out that real estate in Yambol is the cheapest, where the average price is 402 EUR per square meter and respectively the market increase is 19% for the first half of the year.
The most sought after real estate in the country and the capital is two-bedroom apartments. In fact every second purchase deal is of this kind.
In Sofia rents have increased the most in the following residential districts: Beli brezi - 27%, Mladost - 25%, Studentski grad - 23%. The lowest increase rate takes place in Vitosha, Drujba and the center - 18% and Nadejda, Gorna Banya - 9%.

by Stefan Nikolov   

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