Prices of residential units in large Bulgarian cities will increase by 10 per cent by the end of the year, leading real estate agencies predict. Though some say that such property agencies' predictions manipulate rather than inform, the news was reported in major daily publications.

Flats increase their prices on a daily basis and there are no reasons to expect a considerable drop in the upcoming months, Tony Mladenova, the Managing Director of Bulgaria 21 real estate agency said for 24 Hours. The demand is still high. There are offers with three or four buyers. Apartments with areas between 60 and 70 sq m are most popular.

Less costly flats, mostly pre-fab panel and old brick units outside central areas and big cities, will see a greater growth in price rates, Newer homes and ones, which are currently under construction, will see a lower rise in the forthcoming months because their prices are already high.

The Bulgarian property market is not threatened by the price balloon effect. The country shows satisfactory business performance: economic growth, income increase, stable banking system. Real estate is cheaper than that in most countries from Central and Eastern Europe.

Costs of residential property in Sofia will grow by as much as 20-25 per cent by the end of the year, Tihomir Tsakov, Aristo's Manager maintains.

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