Sun, Nov 08 2009
The average price of lodgings in older buildings in the centre of Plovdiv has nearly doubled over the past year, investor.bg quoted Europolis real estate agency as saying.
In the end of June 2008, a sq m in the city centre cost 900 euro, while a year earlier the price was 520 euro.
According to the company, apartments in newly built buildings currently cost 770 to 1000 euro a sq m, but near-future prices of up to 1800 euro per sq m were not improbable.
The price increase for old constructions was a result of the recent development of property market, while newly constructed apartments had become more expensive because of the price increase of construction materials, the company said.
Europolis predicted a slight increase in the prices of property in new developments by the end of the year.
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