Sunny times ahead for Bulgaria? Photo credit: JürgenBOT
Analysis by Bulgarian Properties of data from the National Statistics Institute shows that property prices jumped 1.6 per cent in the third quarter of 2014, once adjusted for inflation.
This is the third “real” rise recorded this year, with property values up in each quarter of 2014 – although the growth slowed slightly during the the three months to September 2014.
Across the country, prices have jumped by more than 1.5 per cent on average each three months and by more than 4 per cent in capital Sofia.
“There is a growth in the prices in all major cities of the country,” says Bulgarian Properties ,” which recently reported that sales in Q3 2014 had increased.
“This is also a confirmation for our forecast from the end of last year for an end in the downward trend on the property market and beginning of a new stage of its development,” says Bulgarian Properties.
Indeed, the portal predicts that prices will end up 2 per cent higher at the end of 2014 and 4 per cent higher in Sofia.