Property prices 2007

[Jain and Chris]

Just a quick update on property price changes in the first half of 2007.

The National Statistics Institute says that prices have so far risen 15% in the first six months of 2007 with a 27% increase in the past year.

Address Real Estate, the country’s largest agency, forecast a further increase of 10-15% for the rest of the year.

The cheapest homes are in the region around Sofia where prices are £152 per square metre – well behind the national average of £347 per square metre - maybe a good investment bet?

One of the biggest factors affecting affordability is the availability of mortgages and home loans. The Credit Centre, a loans consultancy, says that home loans this year are up by 25% with June mortgage lending outpacing even the historically high December loans.

Everything is following the pattern of what has traditionally occurred in other countries following EU accession. But despite this, property prices in Bulgaria remain up to 40% lower than Poland, the Czech Republic and Slovakia.

 

[mike123]

Looks Like another PR for address.
Do you know that Credit center is owned by AG capital, same owner of address.

 

[Jain and Chris]

Hi Mike 123

It wasn't meant to be pr for Address; it's just that they are one of the few agencies which actually monitors property sales and produces data. (They also own Forton, which is the commercial division).

Wish more of them did check out what is going on in the marketplace. The NSI is pretty hopeless on data.

I find it a bit strange that agents don't check this kind of thing - you know, who's buying, age groups, average spend, and so on.... I sure would want to know where my clients were coming from if I were them.

Nonetheless, there are one or two agents which are starting to monitor who is buying and where and when I get the info I'll pass it on soonest.