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Sofias Residential Properties Price 20 Higher

Property in Sofia's residential districts where the demand exceeds the supply had raised by 20 per cent in 2006, data showed.

The prices of property in the districts where the demand was lower raised by an average of 9.5 per cent, 24 Chassa daily said.

Price increase pace of the different types of lodgings became almost equal. The prices of one- bedroom and two-bedroom apartments was increasing faster a few years ago.

Construction of retail complexes influenced residential property prices in Sofia, 24 Chassa said. Busines Park Sofia's construction in Mladost district raised prices of property there from 400 to 650 euro per sq m.

Real estate experts said that Mall of Sofia would also affect the prices in the region where it is located. The mall was in the city centre, but the region failed to attract property seekers' attention before its construction. Mall of Sofia was a pre-condition for the region's office and residential market to develop.

Significant part of the property supply, 15 per cent, was concentrated in the city centre. Another seven per cent of the supply was in the central Lozenets district. Prices varied from 874 to 926 euro per sq m, 24 Chasa said.