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Sofia Property Market to Reach 25% Growth in 2008
For many years Sofia has somewhat lagged other CEE capital cities in terms of the level of price increases and the number of new residential developments taking place.
However, the situation changed after Bulgaria joined the EU and investor confidence in the country has grown markedly, Property Secrets analysts say. Perhaps as a result, Sofia has emerged from the shadows and is perceived as great investment opportunity, a truly emerging market set to grow fast.
One of the main reasons attracting the buyers to the market is the permanent growth potential combined with the possibility of long-term upward price trend.
Property Secrets claim that the property market in Sofia will grow by 20-25% only in 2008. The arrival of big international players is not only a sign that the market is developing, but that it is attractive to the investors as well. The mortgage market in Sofia is comparatively developed as the credit-value ratio is about 70-80%, the analysts add.
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