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Bulgaria's Property Experts Play Down EU Price-Hikes Scare

Bulgaria will continue to be a hot destination for property buyers during the first year of the country's EU accession, experts say and project stability on the market.
While the 25-30% yearly capital gains are over, an average nationwide growth rate of 12-15% is expected over the next twelve months, says BulgarianProperties.com, partner of foreign property buyers here.
Their analysis plays down the widely publicised EU price-hike, at least for a year or so.
Instead, they say the massive injection of managed funds, private investments in the commercial sector and the sustained growth of tourism push the residential and buy-to-let sectors forward.
Commercial and infrastructure development, as well as the increase in visitor numbers ensure a consistently rising demand for high quality rental accommodation for both business visitors and tourists, the experts claim.
The forecast is that today's investors will find Bulgaria continuing to out-perform other countries such as France or Spain in the medium and longer term.
source: www.novinite.com
Spirit of Adventure Brings Britons to Bulgaria for Property

France and Spain, traditional favourites for British property buyers, are losing out to a handful of emerging markets such as Bulgaria, Dubai and Cape Verde, a survey shows.
The annual global property hot sport report, recently released by currency specialists HiFX, puts the shift partly down to a new spirit of adventurousness in British buyers.
"In many cases the emerging markets offer property, which is significantly less expensive than the traditional favourites," Mark Bodega, marketing director of HiFX, commented.
"As UK property prices have continued to rise dramatically in the UK over the last 12 months, combined with rising interest rates, we've seen the overseas property market open up and become accessible to more of the UK population."
The company also puts the rise in interest in more exotic destinations down to a shift away from people purely buying holiday homes towards more serious property investors.
"As people look to where they can make the most money and returns, they are more likely to look away from the traditional markets to areas of expansion and new development", says Bodega.
"We've seen properties in the emerging markets snapped up by investors in 2006. Bulgaria remains a popular investment destination with investors keen to cash in when it joined the EU and we're seeing a consistent amount of interest in Romania for the same reason."
source: www.novinite.com
Residential Prices in Sofia Bulgaria's Highest for 2006

Average price levels of residential properties on the middle market in Sofia remained the highest in the country last year, standing at BGN 1341.8/m2, data of the National Statistical Institute shows.
This marks an increase of 9.8% as compared to the previous year.
The Black Sea towns of Varna and Burgas confirm the trends so far as they see the most brisk demand and prices exceeding BGN 1,000/m2.
Varna follows closely the levels of residential property prices in Sofia with an average of BGN 1316/m2, up by 10% y/y. Third comes Burgas, where prices stood at BGN 1227 /m2, up by 8.9% y/y.
The Danube town of Vidin marked the sharpest rise in prices last year, by an average of 60%.
At the bottom of the price-ranking list are Sofia district, the towns of Kyustendil and Silistra, where buyers are asked to pay about BGN 400/m2.
source: www.novinite.com
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