The price of property in Bulgaria could rise significantly in the next few months, local media have reported.

According to the Sofia Echo, polls by various media outlets have shown that real estate agents across the country widely expect property values to keep increasing.

Some have predicted that between now and the end of the year, the price of property in some major cities could rise by up to ten per cent.

As a result, owners of investment property in cities such as Sofia could benefit from high levels of capital appreciation

Apartments located in the city were said to be in particularly high demand, especially those with up to 70 sq m of floor space.

Cheaper apartments on the outskirts of major cities were also said to be sought-after by property buyers, resulting in an increase in their overall value.

This comes after Property Secrets suggested that people hoping to generate money from the Bulgarian market ignore coastal areas as they were less lucrative than city investments.