Bulgarian Real Estate Market Picking Up - Brokers

Business » PROPERTIES | September 15, 2014, Monday // 16:39
Bulgaria: Bulgarian Real Estate Market Picking Up - Brokers Photo by BGNES.

Bulgaria's property market is picking up and there is a slight price growth over the last three months, according to one of the leading companies in the sector.

Its chief executive Teodora Dimitrova was clear that the price hike may continue, but it will not be drastic, Darik news reports.

Dimitrova noted that for the first time in six years a minimum increase in real estate prices was reported in March. The highest demand is for one or two bedroom homes, she added.

"The money Bulgarians invest in houses range between BGN 30,000 and BGN 50,000, these are the most common transactions. They are mainly financed with own funds, from the sale of another property or with a bank loan," Dimitrova said.

Asked whether the stirring of the market will lead to higher property prices Dimitrova said that currently there is a high supply and therefore prices remain stable.

The company, which has offices in most European countries and monitors the market in the United States and Turkey, reported that the domestic interest rates are among the highest, Darik news informs.

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Tags: property, real estate, market, interest rates

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