Bulgarian Property
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Is Bulgaria still on the investor’s radar?
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08.07.2010
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Bulgaria’s property market continues to appreciate overall as residential prices in Bulgaria’s 28 biggest cities showed an average 5.4% growth in the second quarter of this year, according to the country’s National Statistics Institute (NSI). Year-on-year, prices rose by 27% with the average price for a property in Bulgaria now standing at BGN1,041.1 per sqm.
The NSI reported that the popular tourist city of Varna is still the country’s most expensive area, with prices rising by 3.9% in the second quarter of this year to 1,710.3 per sqm. Sofia also experienced moderate growth (3.8%) where the average cost of a residential property is now 1,647.8 per sqm. The town of Vidin, situated on the banks of the Danube - 200km north west of Sofia, recorded the highest rise in property prices (23%) and now sits at 739 per sqm.
Bulgaria’s second biggest city, Plovdiv (5%), the Black Sea port of Burgas (4.1%) and the Danube town of Russe (10,9%) all experienced growth recording prices of 1,103.2, 1,366.7 and 1,182.7 per sqm respectively.
The only town where no growth was recorded is Targovishte - where prices haven’t changed since 2006.
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