Bulgaria’s house prices rising rapidly, due to strong economic growth
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After almost five years of stagnation, Bulgaria’s house prices are now rising rapidly, thanks to falling interest rates and stable economy. The recovery is led by the country’s capital, Sofia, with double-digit house price rises.
The nationwide house price index rose by 8.82% (9.79% inflation-adjusted) during the year to Q3 2016, a sharp improvement from a rise of just 2.04%y-o-y a year earlier and the highest annual increase since Q4 2008, according to the National Statistical Institute (NSI). During the latest quarter, house prices increased 1.59% (1.29% inflation-adjusted) in Q3 2016.
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