IMF Concludes Regular Mission in Bulgaria, Recommends Restoring VAT to Pre-Pandemic Levels
The International Monetary Fund (IMF) has wrapped up its regular mission in Bulgaria
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
The increase in the price of housing in Bulgaria since 2010 is above the European Union average. Prices in the country jumped by 43%, while growth in the EU was 39%, according to Eurostat data for the third quarter of 2021. The most significant increase for the period was in Estonia, while in four other countries housing prices fell.
HOUSING PRICE INDEX IN BULGARIA:
Eurostat / Capital
Different directions
On an annual basis, rents in the EU rose by 1.2% in the third quarter of 2021, and house prices jumped 9.2%, according to Eurostat data. The analysis also shows an interesting trend in recent years. While in 2010 and early 2011 the prices of both rents and homes moved smoothly upwards, then their directions diverged. Rents continued to grow steadily until the third quarter of 2021. Housing prices, on the other hand, have varied significantly. Thus, after declining sharply in the period up to the first quarter of 2013, they remained relatively stable until early 2015, when they began to rise rapidly, outpacing rents. Overall, rising house prices are outpacing rents in 18 EU countries.
Record holders
From 2010 to the third quarter of 2021, rents in the EU rose by 16% on average and house prices by 39%. In total, housing prices have risen in 23 countries and fallen in price in four. The highest growth is in Estonia (141%), Hungary (118%), Luxembourg (117%), Latvia (106%) and Austria (104%). At the same time, a decline was reported in Greece (-28%), Italy (-12%), Cyprus (-6%) and Spain (-0.5%).
Rents have risen in 25 countries and two have fallen. Again with the highest growth is Estonia (162%), followed by Lithuania (111%) and Ireland (68%). There is a decrease in Greece (-25%) and Cyprus (-3%).
/Capital
Follow Novinite.com on Twitter and Facebook
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion
Amidst the backdrop of Bulgaria's dynamic real estate landscape, all eyes are on the potential impact of the country's imminent entry into the Eurozone
This information was shared during the presentation of data on the current state of the market to journalists
Russia has issued a stern warning in response to Bulgaria's recent legislative efforts aimed at seizing Russian real estate
With its lively culture and fast-paced lifestyle, Dubai is a captivating destination that entices people from all over the world to its luxurious real estate market.
Petar Mastikov, Chief Analyst at the Bulgarian National Registry for New Constructions and Reconstructions, has sounded a cautionary note, expressing concerns over a possible speculative surge in property prices across Bulgaria once the country enters the
Norwegian Inspiration: Bulgaria's Move Towards Environmentally Friendly Prisons
Nexo Is Suing Bulgaria For Over $3 Billion