Thu, Nov 05 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.
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
This comment has been removed by the moderator because it contained .