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Bulgaria Boasts Europe's Highest Rate of Property Ownership |
Bulgaria has one of the world's highest rates of property ownership and tops the chart in Europe.
A total of 94% of Bulgarians owned property in 2006, marking an increase of 3% over the previous year, according to the study of international real estate broker network ERA that compared data from seventeen European countries.
Another 60% of Bulgarians own more than one property.
Cyprus and Spain follow Bulgaria in ERA ranking with 85% and 84% of property ownership respectively. At the bottom of the table comes Switzerland with 37.2%.
Europe's average rate of property ownership stands at 68.9%.
Residential property prices in Sofia remain the lowest among European capital, standing on average at EUR 78 000, ERA says.
Buyers deep deepest in their pockets when acquiring a property in Luxembourg - EUR 485 000 on average.
