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PRICES OF REAL ESTATES GO UP BECAUSE OF NEW ROAD FEE
The prices of apartments and offices will increase because of the newly introduced "road" fee: the construction entrepreneurs will be obliged to pave streets leading to the newly constructed buildings, and this will probably make them include the costs in the price of the real estates for sale. The investors will build the whole local infrastructure, water-supply and sewerage systems, Peter Dikov, Sofia's Chief Architect, announced at a conference, dedicated to the real estate market in Bulgaria, Romania and Serbia.
Currently municipalities build the road and sewerage systems, for this reason many of the newly-constructed buildings remain without infrastructure for long periods of time, which keeps away foreign buyers and investors. "It is expected that the price of construction permits will go up, too," Dikov informed.
The prices of apartments in Bulgaria have hiked by 10% for the last four months. The increase of their costs in 2006 stood at 20%. One-third of all the buyers and investors in Bulgaria are foreign citizens. They, as well as most of the Bulgarians, prefer the luxurious new housing complexes.
The price of land is rising, too, realtors informed.
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