Property in Bulgaria will increase by almost 10% in 2007 according to top Bulgaria real estate agents. Top quality Bulgaria apartments and properties in exclusive location are expected to rie by slightly more and may achieve a 15-20% increase. Bulgaria’s accession to the EU, as well as its cheap prices has lead to very strong demand for property in Bulgaria. Bulgarian apartments were the number one investment for overseas investors and the total amount of Bulgarian real estate sales in 2006 was over 5 billion euro. Bulgarian Properties, one of the leading Bulgarian real estate agents says that is expects the market to continue to grow in 2007 but that the increase will not be as strong as in recent years.
There is still strong demand for Bulgaria apartments in Sofia and these are being purchased by both foreign and local property investors. Sofia property prices compare very favourably to other capital cities in the EU. Average prices in Sofia as 1050 euros/m2 and yields of up to 10% are standard for quality properties. Prices in other European cities are much higher with average prices in Paris, London, Dublin and Amsterdam reaching over 6 times the price per m2 achieved in Sofia.