According to the latets Knight Frank House Price report Bulgaria property currently has the fastest growth rates. Overall prices for Bulgaria property in the period up to Q3 2007 has risen by almost 31%. This is just behind the quickest growing country Singapore where real estate prices grew by some 34%. Knight Frank has cautioned to be careful in certain parts of the Bulgarian market as it believe that areas like Bansko and the Black Sea beach resort are reaching saturation and supply of properties in these areas now exceed demand. In other news it predicted that UK and Irish overseas property ownership will double within five years.
Bulgaria has just launched a new agency to help align the local real estate standard with those in the other parts of the EU. The committee will be independent and will be responsible for overseeing the Bulgarian real estate market and applying certain rules and regulations to the trading in property. According to overseas property experts, Bulgarian real estate leads the Balkans on the real estate market by offering some of the best property investments in Europe. Top quality modern residential complexes can be purchased at cheap prices, in areas that are very appealing to foreign investors and tourists.