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21.09.2007 BULGARIA WORLD CHAMP IN PROPERTY PRICES HIGH JUMP

Sofia News Agency, www.novinite.com

Bulgaria's residential property market has recorded the world's second-highest increase in prices in the second quarter of 2007, overleaped solely by Latvia, according to a new global research.

Residential property prices in Bulgaria jumped by 27.1% in the second quarter of this year, up by nearly 15% in comparison with the same period last year (12.2%).

The strong growth pushed the country up by eight spots in the ranking of Knight Frank, a leading British residential and commercial property consultancy.

While still topping the Knight Frank Global House Price Index, the price rise in Riga is 37.7% for the second quarter of 2007, down from 45.3% for the same period last year.

Global property prices are increasing by 7.8% annually to the second quarter of 2007, according to the research. The figure has shown a 1.8 % fall - from 9.6 % - since the same period in 2006.

House prices across much of Western Europe have stalled or begun to fall. Other previously strong performers in the Knight Frank ranking - notably Spain - have also seen growth rates moderate. Nationally prices in Q2 2007 were more than 5% higher than in Q2 2006.

The slowdown has continued to bite in Denmark, France, the Netherlands, and Switzerland. The German residential market also remains in the doldrums, with year-on-year price growth having declined for four consecutive quarters. Likewise, Sweden has also seen negative price growth over the last 12 months.
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Polina Stoykova MRICS, Executive Director of BULGARIAN PROPERTIES

BULGARIAN PROPERTIES takes care to keep you well informed and presents you regular market reports and statistics as part of the overall service for our clients. Whether you buy or sell property, you can rely on us!

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It seems that 2019 will bring the long-awaited market equilibrium through a balance between supply and demand while maintaining stable property prices.... read more

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