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BULGARIAN HOUSE PRICES SOAR AGAIN
Property values in Bulgaria have risen by a staggering 12% over the third quarter of the year, according to the country's National Statistics Institute (NSI). A report cited by financial news service seeurope.net shows increases in almost every region of the country, with prices on the coast continuing to do extremely well.
House prices in the coastal zones of Varna and Bourgas rose by 11.5% and 19% respectively between the beginning of July and the end of September, according to the NSI; prices in Sofia, the country's capital and most expensive real estate market, went up by 5% over the same period - well under the national average, but still an extremely healthy increase compared with most European capitals.
The biggest increases came in Smolyan , Montana , Blagoevgrad and Rouse, where values rose by 46%, 32.8%, 25.3% and 24.5% respectively. Meanwhile, the cheapest homes in the country can be found in Kustendil and Silistra. Prices have skyrocketed thanks to the double effect of EU entry (on May 1st this year) and increased foreign buying, particularly on the coast.
Newskys (22 October 2004)
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