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Bulgarias Residential Property Prices Increase

Average prices of residential property in Bulgaria rose by 4.6 per cent from July to September 2006, a National Statistical Institute report said.

Property was sold for 865 leva a sq m, the reports said as quoted by Darik Radio. The prices were 14 per cent higher than those for the same period in 2005 and 11.3 per cent higher than the prices in the end of 2005.

Property in the coastal city of Varna became more expensive than the property in Sofia, taking into consideration prices in the end of September 2006, the report said.

The average property price in Varna was 1343 leva a sq m, or two leva more expensive than in Sofia. Property in the other Bulgarian big coastal city, Bourgas, costed 1232 leva a sq m, Darik said.

The highest growth in the property prices was registered in the towns of Blagoevgrad, Smolyan, Haskovo, Montana, Plovdiv and Stara Zagora, the report said.