Property close to Bulgaria's capital hikes price 30%

Sofia Echo, 2006-12-14

     Increasing number of investors were drawn to the areas east of Sofia, 24 Chassa daily newspaper reported. The area is suitable for residential buildings and Tsarigradsko Shousse boulevard offers easy access to downtown Sofia. Prices started to increase two years ago. Demand for property in Busmantsi, German, Gorni i Dolni Lozen has fallen by three to five per cent from the beginning of the year but owners are continuously increasing the prices.
     Most property is offered for sale is the villages of German, Gorni and Dolni Lozen. TheAverage price per sq m reached 70 euro. Prices in Dolni Lozen are lower with land going for 49 euro per sq m. A 900-sq m parcel in Dolni Lozen, suitable for the construction of a single-family house could be bought for EUR 32 000.
     The most expensive terrains were located closest to the highway, 24 Chassa reported. Price increase in the area is expected to continue and more villages like Krivina, Musachevo, Novi Han are expected to attract investors' interest, 24 Chassa said.

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