Bulgarian property market set to grow
House prices in Bulgaria are likely to continue heading upwards this year, according to an expert.
Martin Gikov from UniCredit Bulbank said the recent momentum in the eastern European nation's property market would be maintained during 2008.
Speaking to the Novinite news agency, he predicted that house prices in Bulgaria would go up by about 20% during the year ahead.
This is despite the cooling down of the global property market amid fears of a worldwide recession.
He attributed the increases to a number of factors, such as the country's recent accession to the European Union.
Mr Gikov added that Bulgaria was proving to be a highly popular location among overseas property buyers, particularly those from Russia and various Scandinavian nations.
According to the Global Property Guide, the eastern European country saw the biggest increase in house prices during 2007, when compared with the previous year.
< Back to latest news