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Wall Street Journal: The Interest in Bulgarian Property Investments grows

The newspaper refers to the recent report of the consulting company “Cushman & Wakefield, Healey & Baker”, according to which the land price per square meter in Sofia has risen from 500 Euro in 2003 to 1000 Euro in 2004.

The increasing prices of the properties in Sofia lead to higher prices in the countryside as well, as noted in the Wall Street Journal. According to the issue, the land price per square meter in the Black Sea region exceeds 150 Euro, and gets higher if the plot is suitable for developments of hotels and villas.

The real estate scenery in Bulgaria is altering, comments the newspaper. New constructions of business and commercial centers all over the country attract the interest of foreign investments. According to the Wall Street Journal now in Bulgaria efforts are made to establish real estate trust, as four funds are already announced at the Bulgarian Stock Exchange. To them are associated also foreign funds and local and foreign private investors from Ireland, Germany, Israel and Britain, the newspaper concludes.