Bulgarian property market set to grow this year

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BULGARIAN PROPERTY MARKET SET TO GROW THIS YEAR

Wednesday, 23 Jan 2008

House prices in Bulgaria could increase by as much as 15 per cent this year, industry experts have predicted.

Bulgarian property market set to grow this year

According to local real estate agency Address, the country's housing market is set to experience substantial growth during 2008, BBJ reports.

Speaking at a news conference, representatives of the firm said they expected property values across Bulgaria to rise by at least ten per cent over the next 12 months.

The rate of house price inflation was tipped to be as much as 15 per cent in some parts of the country.

Although this appears to be a fairly high figure, Address said this meant the Bulgarian property market was beginning to level off after several years of fast growth.

According to the Global Property Guide, the eastern European country saw the highest rate of house price inflation in the world during 2007.

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