According to results of the analysis carried out by property experts, the price for the inhabited real estate in Bulgaria has increased on the average on 21 % for the last 5 years. Last year the price 300 000 Euro sounded as reasonable for the high class apartments while one year before the price was 150 000 Euro.
Membership of Bulgaria in EU was one of the reasons of such price deviation, which resulted also in fair demand and decrease in supply of property in the end of the last year – just before the introduction of the country into EU. The prices for accommodation in 2006 have raised on 15 %, whereas in 2005 they have jumped on 40 %. The inhabited real estate has risen in price on the average in 3 times for last 5 years. The same trend in prices proceeds this year also.
For the thirst quarter the real estate has risen in price for 25 % in comparison with the 1st quarter of last year. The rise in prices in a segment of accommodation of the ' lux ' class is taken in notice - for the thirst quarter 2007 the prices in this category have raised on 10 % in comparison with the same period last year.
In accord with experts’ estimations for 9 months this year the market of the industrial areas for building arouses keen interest. Demand in this sector is multiple exceeds the offer. The reasons of it are various, but one of the them, besides, the introduction of Bulgaria into EU and commercial relations development as with the EU countries, and so with other countries. The demand in storage and logistical areas also increased. On the other hand, the today’s industrial structure is in a bad condition and also is absolutely insufficient for the increased demand. High interest is stipulated by it in all big cities of the country both to the settled sites, and also agricultural lands for industrial and storage buildings. The prices for areas in all industrial zones have gone up in Warna from the beginning this year. The average rise in prices has made up 105 %, but in some areas increase exceeds 200 %.
Brokers predict rise in price for land next year also.
In contrast to the industrial areas, the market of the office areas remains stable. High volume building of A and B class offices for sale and for rent have resulted in this price stability. It keeps the prices for the real estate in the segment without substantial price change.
