Prices of residential and commercial real estate do not stop growing since the beginning of the year

indeximoti.bg, 2007-08-26

     In the first quarter of the year house prices were up by more than 9% and agents gave indications that the growth has kept on in the second quarter too. Even under the condition it concerns old buildings only and that a part of it is a result of the bigger tax valuations since the beginning of the year these rates are the fastest since the second half of 2005.
     The European Union is considered to be the main reason for the growing prices. "For us this is the immediate and direct effect from the EU accession in 2007", says the economic analyst Latchezar Bogdanov.Furthermore the EU accession decreased investment risks and this reflected on the prices of the capital the economy attracts for investment in real estate among other things.
     "Bulgaria has already a more European character and the general feeling is that the European Commission monitors the country and would signal for negative trend events which gives safety and stability for investors", says Svetla Kostadinova, economist at the Institute for Market Economy.
     Besides that Bulgaria remains one of the cheapest countries in Europe which means that the inflation pressure is not expected to subside in the coming years.

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