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Bulgaria to See 20% Rise in Residential Property Prices in 2008 |
Named the world's strongest price riser in 2007, Bulgaria's property market is expected to keep up its momentum this year.
Amidst a global cooling of the property market, residential prices are forecast to grow by up to 20% in 2008, down by an average of 15% last year.
In view of the forecast rising prices following the county's accession to the European Union, the sellers on the house market decided to play a wait-and-see game, slowing down supplies and pushing prices up, Gikov explained.
The British and Irish home hunters are pulling out of Bulgaria's property market, unlike the Russians and Scandinavians, who are the most enthusiastic property buyers for the time being.
