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Property Market Developments In Bulgaria Unpredictable In First Half Of 2007

Predictions made for property market developments in the first half of the year failed coming true.

The market saw dynamic developments and turned to be one of the fastest evolving segments. Price hike went beyond expectations, making agents unable to predict future growth.

In the first half of the year, one and two-bedroom apartments registered the biggest price increase, reported.
The growth, however, is specific for each district and average estimations cannot be made.

New construction is responsible for the varying trends, especially in Sofia. If a district sees a number of new two-bedroom apartments, owners of older such property try to sell it at prices similar to the ones for newly built apartments.

Bulgaria’s bigger cities saw residential property price increase of seven to eight per cent.

In general, property located close to the city’s centre gained more in value.