Bulgarian property prices 'strengthen' during first quarter of 2007
Residential property prices in Bulgaria have strengthened significantly during the first 3 months of 2007, according to the findings of a new report.
The statistics showed that across the country, domestic property values grew by 7.74%, with areas such as Bourgas and Plovdiv demonstrating the highest capital growth returns for property investors in the region.
Based on an analysis of property sales in the region, the report from local property firm Address found that prices in Sofia increased by 2.61% over the first 3 months of 2007, rising to 726 euros/m2 (£491/m2), the Dnevnik news provider reports.
Additionally, the study also revealed that some 80% of transactions during the year's first quarter were made up of loan-financed home purchases, mostly for properties priced in the middle or lower price bands.
In other news concerning Bulgaria, the Novinite news agency reports that the UK will give Bulgaria £129,800 for a project designed to improve the country's e-government and administration capabilities.
British and Bulgarian civil servants will cooperate during the course of the programme to share each other's experiences.
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