New reports about 2007 still look good in terms of the property market and Bulgaria. According to the latest data from Address Real Estate Company, out of Sofia, the demand is greater than ever and this developing market has seen an improvement of 18.6 per cent in residential real estate over 2006.
This information is further proof that recent reports about the sheer economic factor in Bulgaria's growth explosion are that of the property market. It saw a record breaking turnover last year of some 11.36 billion euro, according to Yavlena Real Estate Agency. This number is the total value of deals with land and buildings throughout Bulgaria over the period of the year.
Additionally, the average price paid for residential properties increased throughout the country. It remained at EUR 737/m2 in 2007 which is over EUR 624/m2 for 2006.
Cities around the country did well. Sofia, the capital, saw the largest salaries in the country as did the values of property here which continue to grow by an average 25 per cent. Varna (19 per cent growth) and Plovdiv (14 per cent growth) also saw large increases in value.
Bulgaria is also predicted to be the largest economic factor in 2008, with estimates of 30 per cent growth or more to be realized.
