Bulgaria property has topped the latest Knight Frank Global Price Index in terms of annualised property price growth rates, it has been revealed. The study has revealed that price growth for Bulgaria property in the year to the third quarter of 2007 amounted to 30.6 per cent, putting it ahead of the highest country, Singapore, by three percentage points. Last year’s highest ranked country, Latvia, fell from 56.9 per cent to 10.9 per cent year on year, with Knight Frank saying that prices had begun to fall in certain parts of Riga. “Despite concerns over the level of oversupply in a number of locations within Bulgaria – most notably the winter ski resort of Bansko and selected coastal resort locations – Bulgaria property has supplanted the previously top performing Baltic hotspot at the top of the Knight Frank table,” the report confirmed. Last month it was predicted that British and Irish overseas property ownership levels will double within the next five years.
Source: hotproperty.co.uk