Realtors say Bulgaria housing price growth to slow down
2008-01-22 08:00 News from Dnevnik.bg
Bulgarian housing prices are expected to increase 10-15% in 2008 as the growth momentum gathered in 2007 fizzles out, said Address, one of the nation`s biggest real estate agencies.
Another large real estate agency, Yavlena, made similar forecast recently.
Local realtors said demand will continue to outstrip supply, lifting the value of both new and old residential stock.
Address data shows the 2007 nationwide price gain for residential properties at 18.6%. Ruse posted the biggest increase with 41%, followed by Sofia with 25% and Varna with 20%.
The real estate agency expects price appreciation to be felt the strongest on the segments for suburban homes and homes with top-notch specs in 2008.
Address notes the dearth of buildable land plots with central location in the bigger cities, suggesting that developers will now shift their attention to smaller population centers.
The agency said the price surge posted by the Sofia residential market in 2007 set a three-year record.
Two-room apartments accounted for more than half the property transactions in the capital last year. Three-room apartments placed second.
Address ranks Lyulin, Mladost and Manastirski Livadi as Sofia most in-demand residential districts.
Varna remains the nation`s most expensive housing market with an average price of 852 euro/sq m.
This News is listed at news.Guide-Bulgaria.com
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