|
In another observable trend, the number of Russian buyers in Bulgaria doubled last year. Most of them are buying upscale properties in the central part of settlements on the Black Sea. Buyers and sellers seem to have changed their criteria for "expensive". Last year 300 000 euro sounded reasonable for a top-notch apartment, while a year before 150 000 euro was a top price. The market was influenced by the country's accession to the EU from January 1 and people had the mindset that property prices would hike with Bulgaria's EU entry. In the last days of December 2006, selling offers were withdrawn while demand went high. The overall increase of housing prices across the country was 12.07 per cent last year, to 624.83 euro a sq m from 557.53 euro a sq m. Among large cities, the increase was highest in Plovdiv, 13.66 per cent, largely due to a shift of investors' interest away from the saturated market in the capital to the second largest city, according to BG estates. Prices in Sofia went up 12.53 per cent and in Varna 10.33 per cent. |