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Overall investment growth spurs housing demand
submited on 27.02.2007 in category Monetary policy | Macroeconomic developments
submited on 27.02.2007 in category Monetary policy | Macroeconomic developments
Residential property prices grew faster than average income, but close to the rate of investment expansion during the last 5 years; compared to the local stock market, they lagged far behind. Since 2001 average housing prices increased 2.64 times, or an annual appreciation of 21.4%. Except for Bourgas most big cities have price growth lower than 3 times. In Sofia, prices by 2006 exceed the 2001 levels 2.2 times, an average annual growth of 17.4%. At the same time, nominal GDP (in Leva) grew by 58%. Investments increased 2.2 times. The stock exchange index SOFIX grew 13 times.
(more - in Bulgarian version)
(more - in Bulgarian version)
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