Bulgaria still booming in 2008

Bulgaria’s property market is showing no signs of slowing down…

New data from imot.bg shows that Sofia and Varna are recording the most impressive growth with asking price levels in the most expensive districts nearing EUR 1500/m2.

The districts of Yavorov, Ivan Vazov and downtown Sofia remain the costliest residential areas in the capital, commanding prices of EUR 1467/m2, EUR 1466/m2 and EUR 1425/m2 respectively.

Prices of residential property in the most expensive districts of coastal Varna, such as the Greek neighbourhood, overtake those in the capital with offers averaging EUR 1561/m2.

Experts point out that the sale prices levels are usually from 5% to 10% lower that the asking prices.

Bulgaria recorded the world's strongest house price growth last year amidst a global cooling of the property market. A study carried out by Global Property Guide set the country's house price growth at 30.6%.