Bulgarian Property Market Experiences Growth

Bulgaria's property market witnessed a slight expansion during 2008 when compared with the previous year, new data has revealed.

Investors considering purchasing property in Bulgaria are advised that prices climbed by 0.1 per cent last year, despite the global economic downturn, the Sofia Echo reports.

The figures from the National Statistical Institute suggest that almost two-thirds of the total housing stock (63.5 per cent) is in towns and cities and there were 2.13 million residential buildings in 2008, containing 3.76 million units.

Covering 240.706 million square metres, Bulgaria's total housing inventory primarily comprises two and three-room units (65.3 per cent), with cities Pernik and Sofia having the highest proportion of homes per 1,000 people.

Industry magazine Quest suggested recently that Bulgaria offers expatriates a better quality of life, with lower levels of stress, a cheaper cost of living, local natural foods, fewer cars on the roads and a slower pace.