Sat, May 26 2012
Property prices were registering the highest increase in East European countries, data of the British property company Knight Frank, presented in Financial Times shows.
Japan continues struggling with price decrease, the report said. Property in Hong Kong was also losing value after a previous boom.
Worldwide, property has become 8.5 per cent more expensive, the analysis showed.
Significant price increase was observed for property in Bulgaria and Estonia. According to the analysis the increase resulted from the equalisation of prices in Europe. Because of investor interest property prices in Bulgaria went up by 20.5 per cent.
According to predictions Slovenia and Slovakia would become Europe's property hotspots in the coming year. Economic recovery would also bring up property prices in Germany.
Worst is over for Bulgaria's property market after three years of decline, reports by Yavlena and Bulgarian Properties real estate firms claim.
Draft law envisages professional association for real estate agents and a public register of real estate companies to bring order to the business and get rid of rogues and rip-off artists.
Landmark Centre Varna’s financial reports show its largest debt is an investment loan of 6.9 million euro issued by Eurobank EFG Bulgaria in mid-2008 and secured with a mortgage.
Average market prices of homes in Sofia fell by one per cent in the fourth quarter of 2011 compared to the same period of 2010, according to the Raiffeisen Real Estate Index, as quoted by Klasa daily.
Proportionately, the number of transactions in leva increased as people reacted to speculation that the euro would disappear.