Prognosis for Real Estate Market 2006

Clippings from Bulgarian Newspapers, 2006-01-04

"The prices will rise by 10%," brokers say.

     However, the prices of the luxury apartments in the center of Sofia and at the seaside will increase drastically. They are expected to go up by as much as 50%, according to the Real Estate Agencies. In comparison, the prices of luxury buildings went up by 56% last year.
     The hike in the prices of the properties in the center of Sofia is the most drastic. Bulgaria follows the same trend as Greece. The luxury houses in Greece sell at about EUR 4000 - 5000/sq.m., while the price of the average properties is two or three times lower. The same thing happens in Sofia. In the capital of Bulgaria the most expensive flats are sold at about 1200 - 1400 euro per square meter, while the average price is between EUR 600 and 800 per square meter.

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