Scandinavians Make a Website on Bulgarian Real Estates

The Bulgarian site of Alma Media will also offer a wide database with real estate offers. Its visitors will have the opportunity to seek and offer residential and trade buildings and areas not only in Bulgaria but also in Finland, Sweden, Estonia, Latvia, Lithuania, Poland, Ukraine, Russia and Croatia.

The construction entrepreneurs and investors can present their projects in a separate specialized subdirectory of the portal.

Bulgaria Residential Property Prices up 18,6% y/y

Prices for residential real estate in Bulgaria grew by an average 18,6% in 2007 over the previous year due to the developing market and brisk demand, realtors said.

The average price paid for residential properties across Bulgaria stood at EUR 737/m2 in 2007 compared to EUR 624/m2 in 2006, shows data of Address real estate company.

Capital Sofia, which boasts the highest salaries in the country, continues to benefit from the real estate boom and recorded the highest rise in prices last year - 25%, reaching an average price of EUR 835/m2.

Bulgaria Residential Real Estate Prices Up by Nearly 30%

The port city of Varna came in second, commanding an average price of BGN 1762,63/m2, up by 33,9% over last year. Third ranked the other major port of Burgas with average residential property prices at BGN 1442,08/m2, posting a 17,5% surge over the previous year.

The residential real estate in Sofia district bottomed the ranking with prices as low as BGN 488,14/m2, marking an increase by 18,6% compared to the previous year.

Bulgaria's real estate to rise 10-15% in 2008

Bulgarian house prices are expected to increase by 10 to 15 percent in 2008, according to a forecast Monday by local Real Estate agency Address.

The sharp price movements which characterized 2007 are expected to level off in 2008, Katya Tsenova, managing partner of Address, told a news conference here.

The agency's experts predicted growing prices for suburban property and property with good characteristics.

Brits Losing Interest in Bulgarian Real Estate

Bulgaria is slipping in the preferences of Britons looking to buy property abroad, a survey by A Place in the Sun magazine showed on Thursday.

Spain and France have retained their top two positions in the list of 20 best overseas property destinations for UK property buyers, but Bulgaria has lost its third place and was ranked eight.

Russian Real Estate Websites Full With Bulgarian Properties

For example 7,000 property advertisements for Bulgarian estates from a total of 24,000 are available on prian.ru.

According to local broker agents Russians prefer to invest in Bulgarian properties due to the countries' nearness and easier communication.

Another reason could be the Russians' nostalgia by local seaside resorts, where they used to rest when were young.

The real estate story

Real estate continued to be one of Bulgaria’s talking points and treasure troves in 2007. Whatever the reason – momentum from previous years, good advertising, price speculation and a construction boom – hundreds of millions of euro worth of real estate changed hands in Bulgaria. If in previous years the market was driven by British clients seeking family houses in villages, in 2007 things changed. According to some analysts, interest in holiday properties in Bulgaria among UK buyers decreased by 70 per cent, mainly because of the mortgage crisis in the US and Europe. Despite this, in 2007 Brits continued to be the market leaders. According to research by Green Life Property Development, UK clients accounted for 40 per cent of buyers of holiday homes and Russians 38 per cent. Scandinavians made up 3.64 per cent of the market and Greeks just 1.84 per cent.

Bulgaria with Highest Raise in Real Estate Business

The property prices in Bulgaria increased with 30.6% according to the same guide's data by the end of September 2007.

Bulgaria outstrips even the Chinese city Shanghai in the property demand, which used to lead the ranking to the moment with increase of 28% for the first 10 month of the last year.

Among countries with significant raise of real estate prices are Singapore, Estonia and Lithuania. The almost 10% increase of UK provides for it 14^th position in the ranking.