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Prices of Bulgarian property under construction rises by 10%

Thu 14 Sep 2006 - Source: Sofia Echo

Prices of unfinished property in Bulgaria's capital rose by 10 per cent for the first nine months of 2006, 24 Chassa newspaper reported.

Prices in other big Bulgarian cities also rose by five to seven per cent. Unfinished property prices at the seaside increased by seven per cent, 24 Chassa said. The increase in prices of building materials and segmentation of the market were among the reasons for the price change, 24 Chassa said. High supply also affected the prices.

The prices of one room and three bedroom apartments in Sofia rose the most. Companies preferred the construction of two bedroom apartments, 24 Chassa said. This type of property became more expensive, by four to nine per cent. The price of property under construction varies from 500 to 850 euro a m sq, 24 Chassa said.