L ' Sofia News Agency (26 Oct 2005) writes that house prices in regional centers of Bulgaria are increased 1.5 to 3 times in the last five years. This is obviously welcome news for all investors who bought the property in the Bulgarian market. It will also be reassuring for those considering a future real estate investment in the country.
High levels of growth are unprecedented in normal market situations and it is clear to see that the Bulgarian property market cannot in any way be described as normal " " at the moment. Typically, a property will double in value in the time period between 8 and 10 years. This takes into account both of the cycles of growth and decline in the total movement is a doubling of the ' property value.
For the Bulgarian real estate market to show signs of growth up to 200% in a period of 5 years only signals the growing confidence in the prospects of the country. The Bulgarian stock market has also tripled in the last two years awaiting imminent accession to the EU ' in 2007.
Bulgaria's Government has recently approved changes to the law on excise duties in order to increase the excise duty on alcohol and ' cigarettes. The amendments are in line with Community law, taxation and Bulgaria undertook to achieve the EU minimum excise duties on a step-by-step basis. In accordance with the ' entry to the euro (€) in 2009, Bulgaria has accelerated the pace of revision of excise duties. With a gesture promising, Finance Ministers of the EU have reported ' euro coins will feature the emblems of the State of Bulgaria since 2007.
In summary, a booming real estate market with strong international investment, a doubling of the value of the local stock market and the determination of both the Government and the EU Ministers for the country to meet the criteria of accession to the EU by ' the agreed date of 2007 all indicate a strong economic future for Bulgaria.
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