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Bulgarian real estate company ERA has predicted a 15% increase in the prices of Bulgarian real estate during 2008. ERA says, the number of Bulgaria real estate deals during 2007 grew between 4% and 5%. Around 25% of the deals were made by overseas investors. 2 bedroom apartments with an approx area of 60m2 remain the most popular type of Bulgarian real estate. The annual increase of in mortgage credits is estimated at 62%, compared to an average increase of around 7% in the Eurozone area. The most common mortgage amount for Bulgaria real estate is for EUR 30 000 with a 25-year repayment term. ERA’s research on Romania shows that the real estate prices there are expected to go up at about the same rate as salaries, which are currently increasing about 13% per annum. The residential real estate market in Romania’s capital Bucharest went up 27% in 2007 with prices reaching EUR 1500-3000 per m2. In comparison, the prices for Sofia property are EUR 670-3900 per m2.
Source: Sofia Weekly