Growth in Bulgarian housing market continues

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GROWTH IN BULGARIAN HOUSING MARKET CONTINUES

Tuesday, 22 Jan 2008

A Bulgarian media outlet has reported that house prices across the country are continuing to increase.

Growth in Bulgarian housing market continues

The Novinite news agency said the average price of residential property went up by almost fifth during 2007.

Values were found to be at a national high in the city of Varna, as they were 19 per cent on the figure recorded a year earlier.

High demand for property in Bulgaria was cited as the main reason for the increase, along with the maturation of the market.

The level of demand was described by Novinite as "brisk", while it added that the country's housing market was "developing".

This means that foreign property investors who purchase a Bulgarian property could benefit from considerable capital growth.

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

Property Select offers a comprehensive selection of overseas property in Bulgaria, news, members club and reviews of the latest property developments.

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