Bulgarian Property Prices Triple Between 2000-2005

The Sofia News Agency (26 Oct 2005) writes that home
prices in Bulgaria's regional centres have increased 1.5
to 3 times over the last five years. This is obviously
welcome news for all investors who have bought property in
the Bulgarian market. It will also be reassuring for those
considering a future real estate investment in the
country.

Such high levels of growth are unprecedented in normal
market situations and it is clear to see that the
Bulgarian property market can in no way be described as
"normal" at the moment. Typically, a property will double
in value within the timeframe of between 8 to 10 years.
This takes into account both cycles of growth and decline
in which time the overall movement is a doubling of the
property's' value.

For the Bulgarian property market to show signs of up to
200% growth in only a 5 year period signals the increasing
confidence in the country's prospects. The Bulgarian stock
market has also tripled over the past two years in
anticipation of imminent EU membership in 2007.

Bulgaria's government has recently approved amendments to
the Excise Duties Act to increase the excises on alcohol
and cigarettes. The amendments are in line with the EU
taxation law and Bulgaria has committed to reaching the
minimal EU excises on a step-by-step basis. In accordance
with the entry to the Eurozone (€) planned in 2009,
Bulgaria has speeded up the pace of excise revision. In a
promising gesture, EU finance ministers have signalled the
euro coins will feature the state emblems of Bulgaria as
of 2007.

In summary, a booming property market with strong
international investment, a doubling in value of the local
stock market and the determination of both the government
and EU ministers for the country to meet the EU membership
criteria by the agreed date of 2007 all indicate a strong
economic future for Bulgaria.