Overseas property news - Buoyant bulgaria still booming

Buoyant bulgaria still booming

Bulgaria has compounded its position as one of the world’s top investment destinations…

Bulgaria has once again topped the Knight Frank Global House Price Index with huge annualised price growth of 31.5%.

According to Liam Bailey, Head of Residential Research at Knight Frank, Bulgaria continues to ‘confound market fears of oversupply’ and has so far ‘proved immune to the deceleration seen in much of the continent’.

Mr Bailey added: “Since the second quarter of 2007, Bulgaria has been the best performing location in the Knight Frank Global House Price Index.

“While the rate of growth in the price of flats was lower than in previous quarters, it was nonetheless maintained at over 30%, again being driven by the performance of areas bordering Romania such as Ruse and Vidin, as well as the capital Sofia, where year-on-year price inflation exceeded 60%”.

Location

2007 Q1

2008 Q1

2007 Q1 Rank

2008 Q1 Rank

Position Change from 2007 Q1 index

Position Change from 2007 Q4 index

Bulgaria

22.6%

31.5%

2

1

1

0

Singapore

13.5%

29.9%

7

2

5

0

Hong Kong

2.7%

28.8%

25

3

22

2

Jersey

4.5%

28.0%

22

4

18

n/a

Russia

#N/A

21.7%

#N/A

5

#N/A

-2

Iceland

9.7%

19.1%

11

6

5

0

Australia

8.6%

13.8%

12

7

5

2

China

5.5%

11.7%

19

8

11

4

Sweden

-0.3%

9.1%

31

9

22

2

South Africa

13.6%

8.8%

6

10

-4

-2

Croatia

0.0%

7.1%

28

11

17

-1

Canada

12.6%

6.1%

8

12

-4

-5

Indonesia

5.5%

6.1%

18

13

5

5

Netherlands

8.0%

4.5%

13

14

-1

11

Norway

16.4%

3.8%

5

15

-10

-2

Spain

7.2%

3.8%

16

16

0

1

Portugal

1.2%

3.8%

27

17

10

5

Finland

5.2%

3.6%

20

18

2

-3

Poland

0.0%

3.0%

28

19

9

-15

France

7.7%

2.5%

14

20

-6

-1

New Zealand

12.4%

2.1%

9

21

-12

-7

Hungary

3.8%

1.2%

24

22

2

2

Austria

6.1%

1.2%

17

23

-6

-3

UK

11.2%

1.1%

10

24

-14

-8

Lithuania (Vilnius)

21.7%

0.5%

3

25

-22

1

Switzerland

2.5%

0.4%

26

26

0

-5

US

4.7%

0.0%

21

27

-6

1

Israel

-5.0%

-0.2%

34

28

6

-5

Denmark

4.1%

-0.7%

23

29

-6

-2

Japan

-1.5%

-0.7%

33

30

3

n/a

Germany

-1.5%

-5.2%

32

31

1

-2

Ireland

7.6%

-8.8%

15

32

-17

-1

Estonia (Tallinn)

21.4%

-10.7%

4

33

-29

-1

Latvia (Riga)1

61.2%

-20.0%

1

34

-33

-4

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