Bulgarian Property On The Up

Property in Bulgaria continued to rise in value at a rapid rate in 2007, a media outlet has revealed. The Novinite news agency collected figures from real estate agencies across the country and worked out that the average price of residential property went up by 18.6 per cent last year.

However, a number of regional variations were highlighted in places such as Varna, which saw particularly strong growth over the course of the year. Property values in the city were found to be 19 per cent higher than in 2006 - an increase that is above the national average. In addition, Varna was rated as the most expensive place in which to purchase a Bulgarian residential property.

This comes after figures in the Global Property Guide revealed that during 2007, Bulgaria experienced the highest rate of house price inflation in the world.

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