Sun, Nov 08 2009
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.
Office rent transactions peaked at 65 000 sq m between July and September 2008, but collapsed to 10 700 sq m in Q3 2009, Forton manager Sergei Koinov said.
Most potential buyers are now opting to buy a luxury flat in the range of 120 000 to 150 000 euro or a single family home for about 500 000 euro.
About 30 000 to 35 000 people employed in the construction sector were facing redundancies in 2010, Bulgaria's Regional Development Minister Rossen Plevneliev said on October 26.
Average market prices of housing in Bulgaria dropped five per cent in July-September, measured quarter-on-quarter, the National Statistical Institute said on October 23 2009.
The European Investment Bank (EIB) has released a 43.5 million euro loan to Sofia Municipality, for infrastructure projects worth 88.1 million euro in total