Property Deals In Bulgaria Take Three Months To Complete

The average time needed for a property deal in Bulgaria to be concluded was three months since the moment the property was offered for sale, 24 Chassa daily said.

The newspaper quoted international comparative research conducted in 16 European countries by the international company ERA.

Completing a property deal took the longest time in Switzerland and Germany, research showed. Property deals were completed fastest in Spain.

People from Luxembourg lived in the most spacious property. Bulgarians, Austrians, Germans and Greeks preferred the second biggest apartments in Europe.

The average area of the apartments offered for sale in Bulgaria was 68 sq m, while in France and the UK it reached 60 sq m. The apartments of Spaniards were even smaller, 24 Chassa said.

Property prices in Bulgaria began stabilising in 2006, the report said. The average prices from April to July 2006 were 819.3 leva per sq m. The prices were 1.6 per cent higher than those for the first three months of 2006.

The most expensive property was sold in Sofia, Varna and Bourgas.