Bulgarian Real Esate Market

And in the second quarter of 2008, property prices in Bulgaria are extremely low – among the lowest in the whole world. Yes, the Bulgarian real estate becomes more expensive. In 2007 Bulgaria ranked second for growth in housing prices – 27.1% per year. But nevertheless it is still possible to buy an apartment in Bulgaria on the Black Sea coast in a good new complex just 900 – 1500 euro / sq.m. This is very far from the average level of prices in the eu. Bulgaria in 2009 will be one of the most promising from the point of investments, the regions in the European Union. Real estate specialists predict that house price growth in Bulgaria in the second half of 2008 will be between 8% and 15%.

Prediction almost coincides with the increase in property prices in country for the first quarter of 2008. According to experts from January 2008 until late June, the real estate in Bulgaria has risen by an average of 12%. In the first 6 months of 2008 was the highest demand for two-bedroom apartment, but it was noticed an increase in demand for three and four apartments. The profitability of real estate in Bulgaria in mid-2008 is 5.67%. Prices for rental apartments also noted an increase this year, especially in Sofia, where the increase is 18.98%. In the middle of this year there was also good news for those who bought property in Bulgaria – from July 1, 2008, Russian citizens who are property owners in Bulgaria and can produce a document property – a notarial act – are eligible to receive multiple-entry visa to Bulgaria for 3 years.