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Bulgarian property prices continue climb

Bulgaria saw the world's strongest house price growth at 30.6% (15.4% in real terms) to end-Q3 2007 from a year earlier, according to the Global Property Guide (GPG).

Named the world's strongest price riser in 2007, Bulgaria's property market is successfully keeping up its momentum in the first month of the new year, realtors said. The capital city of Sofia and the Black Sea town of Varna are recording the most impressive growth with asking price levels in the most expensive districts nearing EUR 1,500 per square meter, shows data of the local real estate site www.imot.bg.

The districts of Yavorov, Ivan Vazov and downtown Sofia remain the costliest residential areas in the city Sofia, commanding prices of EUR 1,467/m2, EUR 1,466/m2 and 1,425/m2 respectively. Prices of residential property in the most expensive districts of coastal Varna, such as the Greek neighborhood, overtake those in the capital with offers averaging EUR 1,561/m2.

Bulgaria recorded the world's strongest house price growth last year amidst a global cooling of the property market. A study carried out by Global Property Guide (GPG) set the country's house price growth at 30.6% (15.4% in real terms) to end-Q3 2007 from a year earlier. (novinite)