Sun, Nov 22 2009
Bulgaria's National Statistics Institute (NSI) said that real estate prices in Bulgaria had, on average, risen by 28.9 per cent in 2007, compared to the year before.
Price increases in 2007 ranged between 44.3 per cent in Turgovishte to 15.6 per cent in Yambol, the NSI said.
Ranked by price increase, Sofia was fifth with 35.1 per cent, with Vidin (36.5 per cent), Silistra (38.7 per cent), Pernik (40 per cent), Rousse (140.9 per cent) and Turgovishte ranking ahead of the capital city.
Sofia was still the most expensive place to buy real estate, with an average price of 1813.17 leva a sq m, according to the NSI data.
Though the Bourgas was a close second with 1762.63 leva a sq m.
Other Bulgarian cities where real estate prices were in the above-1000-leva range included Varna, Bourgas, Rousse, Stara Zagora, Plovdiv, Blagoevgrad and Pleven.
The cheapest real estate was available in the Sofia region outside the capital, where the average price was only 488.14 leva a sq m.
The Black Sea town of Pomorie has approved a proposal for the construction of a spacious and modern marina, with a capacity of over 600 yachts and small passenger ships.
Over the course of a year, from one of the leaders in Europe in new construction, Bulgaria became one of the countries currently quagmired at the bottom of the table and was now amongst the three worst hit countries, along with Romania and Slovenia.
The park is posed to act as an economic stimulant in the region, creating a modern infrastructural base for companies. It is set for completion by Q3 of 2010.
Both retailers target at least 50 outlets in Bulgaria by the end of 2010.
When will Bulgaria’s real estate and construction sector recover?
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