Imoti.net
Новини
Sofia Residential Property Market Sees Rising Demand
Рубрика: Property news Източник:
 London tops the ranking for residential property prices among capitals and major cities of the countries, members of FIABCI. CLICK on the picture to see the whole ranking. |
Low levels of unemployment in Sofia last year - almost 3,6% and the constantly expanding credit market with 80% increase of the mortgage landing in 2003, are the main factors that contribute for the brisk demand on the local property market. These features are also characteristic for the Black Sea towns of Varna and Burgas, where the steady economic development and increasing investments in the tourism industry attract more people from inland Bulgaria. Data shows the increase in real estate property prices in Burgas and Varna to be by some 17% higher than the average for the country.
The statistics of the International Real Estate Federation (FIABCI) show that London tops the ranking for residential property prices among capitals and major cities of the countries, members of FIABCI - almost 60 in number, with over EUR 9000 per sq.m., outstripping New York, Tokyo, Singapore and Paris. Sofia occupies the last place in the ranking.
The CEO of ADIS, Deyan Kavrakov forecasts the rising trend in residential prices to continue gradually in 2004, though on a smaller scale. An increase can be expected in high-quality real estate such as gated communities, which were more recently discovered by local investors.