Christmas boom takes hold of Bulgaria's property market
The number of property deals concluded in December 2006 increased by two to four times, as compared to the figures for the same month previous years.
All segments of the property market registered an increase, Dnevnik newspaper reported.
More intense activity came as the result of three factors. Higher tax evaluation from January 2007, fewer projects offered for sale because of expected price increases and uncertainty concerning Natura 2000 environmental restrictions feature among those.
Sofia, Plovdiv, Varna and Kyustendil notaries were occupied by the end to carry out property deals, Dnevnik said.
The average price increase over 2006 was 15 per cent for all property sectors, real estate agents said. An Industry Watch analysis confirmed the data, saying the increase varied from 12 to 15 per cent.
Property purchased for investment purposes gained most in value. The price increase there reached up to 50 per cent, Dnevnik reported.
Representatives of property agencies said that the price increase to be expected in the beginning of 2007 was not high. An average gradual increase of 10 per cent was probable. The one-time EU entry effect was to last for a period of two years, before the market stabilised.
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Friday, November 21 2008
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Art
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