Real Estate Prices In Bulgaria Remain Stable, Supply Exceeds Demand

Residential property prices in Sofia stabilised during the first half of 2006, Colliers International Semiannual Residential Market Overview said. The prices increased slightly in comparison to the prices previous years.

Ivan Vazov district became the second most expensive area in Sofia where the average price reached 1325 euro a sq m, the overview said. The most preferred area remained the Doctor's Garden where prices reached 1700 euro a sq m.

The middle segment of the market in Sofia was the most active one. Clients preferred completed property. Two-bedroom apartments were demand the most, the overview said.

The supply of holiday homes in the mountain regions registered a 152 per cent increase since June 2005. The most preferred location was Bansko mountain resort, where the apartments costed more than 1600 euro a sq m.

The coastal resort property supply increased by 37 per cent or 6000 units for the past year. More than 22 500 units were currently in different stages of development, the overview said.

St. Vlas resort registered the highest prices, varying between 600 euro a sq m and 1850 euro a sq m.