News

Property price increase highest in Bulgaria's Varna and Bourgas

Property prices in Bulgaria increased over the summer, data of the National Statistical Institute (NSI) shows.

The increase was highest in the coastal cities of Bourgas and Varna. The price increase in Sofia was gradual, mediapool.bg reported.

Real estate sales in Bansko winter resort increased the overall price of property in the Blagoevgrad region by 12.4 per cent, the NSI report said. Apartment purchase in Pamporovo resort hiked the cost of property in the Smolyan region by 12.2 per cent.

Price increase in the Blagoevgrad region resulted only because of the deals in Bansko. For the period from April to July the price of real estate in the region went down by 2.1 per cent and the overall increase registered was significant, mediapool.bg reported.

Agents lacked an explanation for the price increase in Bourgas. It could have resulted from the several expensive deals concluded recently, agents said.

The average price of apartments in Bourgas was 1232 leva a sq m. Average prices registered in the end of June reached only 1180 leva a sq.

Varna's price increase reached 6.4 per cent. Property there was slightly more expensive than the one in Sofia, mediapool.bg reported.

October 25 2006, Source: www.sofiaecho.com