Nation-wide housing prices jumped 22% in January-September 2007 to around 1,120 levs, shows data released by Bulgaria's statistical authority on Tuesday.
The biggest spike - over 45%, was registered in the city of Vidin, North-western Bulgaria, followed by Sofia with 34%.
The price increase recorded by the statisticians in the first nine months has already beaten the forecasts for a full-year gain of 15% made by realtors in early 2007.
The residential market in Vidin also posted the biggest price increase in Q3 with 20%, followed by Sofia with 15% and Blagoevgrad with 12%.
The latest gains reinstate Sofia as the nation's most expensive housing market with an average price of close to 2,000 levs/sq m. It leapfrogs Varna, taking a lead of more than 150 levs/sq m on average over homes in the coastal city which was consistently pipping the capital, albeit fractionally, over the past two years.
The realtors explained the surge with the fact that, in an overwhelming number of cases, the full price of the property transactions is being reported to the registry offices.
The explanation for the price gains in Vidin has to do with the launched construction of a new cross-Danube bridge and the big number of residents of area villages that have sold land to the developers of logistics and business parks and now invest in urban homes.
(Dnevnik)
The biggest spike - over 45%, was registered in the city of Vidin, North-western Bulgaria, followed by Sofia with 34%.
The price increase recorded by the statisticians in the first nine months has already beaten the forecasts for a full-year gain of 15% made by realtors in early 2007.
The residential market in Vidin also posted the biggest price increase in Q3 with 20%, followed by Sofia with 15% and Blagoevgrad with 12%.
The latest gains reinstate Sofia as the nation's most expensive housing market with an average price of close to 2,000 levs/sq m. It leapfrogs Varna, taking a lead of more than 150 levs/sq m on average over homes in the coastal city which was consistently pipping the capital, albeit fractionally, over the past two years.
The realtors explained the surge with the fact that, in an overwhelming number of cases, the full price of the property transactions is being reported to the registry offices.
The explanation for the price gains in Vidin has to do with the launched construction of a new cross-Danube bridge and the big number of residents of area villages that have sold land to the developers of logistics and business parks and now invest in urban homes.
(Dnevnik)