Property Price Increase In Bulgaria Second Highest Worldwide

Bulgaria registered the second highest increase in property prices worldwide, according to the analysis of London agency Knight Frank.

The analysis compares property prices in countries in Europe, Asia and in the US, 24 Chassa newspaper reported.

Bulgaria maintains the second highest price increase after Latvia, where the growth for the second quarter of 2006 as compared to prices for the previous year reached 45.3 per cent.

From all countries analysed, three experienced negative growth rate, 24 Chassa reported.

Price growth in Latvia resulted from the low inflation and the facilitated access to loans. The reason behind the price increase in Bulgaria was similar.

Though the price increase for Bulgaria was high, it registered a slowdown since last year. In the second quarter of 2005 the growth rate in Bulgaria reached 43.8 per cent but went down to 20.5 per cent for the second quarter of 2006, the analysis shows.

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