Residential Property Prices In Bulgarias Capital Most Expensive In Iztok Complex

Residential property prices in Sofia saw the highest increase in the Iztok borough for the first six months of 2007.

According to Colliers International consultancy agency, prices in the Iztok residential complex went up by 29 per cent in the first six months of 2007, investor.bg reported.

The increase on an annual base was 51 per cent. As a result Iztok, became the second most-expensive residential district in Sofia after Doktorska Gradina, where the prices went up by 19 per cent over the fisrt six months of 2007, and by 13 per cent compared with the same period of 2006.

The average residential purchase price in Iztok reached 1450 euro a sq m in the first six months of 2007, compared with slightly below 2000 euro a sq m in Doktorska Gradina (Doctors' Garden).

The increase in the Ivan Vazov residential district is 11 per cent and in Lozenets, 19 per cent.

Residential prices in Manastirski Livadi, Buxton and Vitosha also increased.

Residential property offering continues its steady increase as the focus remains on residential districts and settlements of a closed type.

The highest rental price increase in Sofia was again registered in Iztok, at seven per cent, followed by Doktorska Gradina, at five per cent, and Lozenets, at four per cent.