September 14, 2021
The index of the consulting company Knight Frank, including 55 countries, ranked Bulgaria 25th in the world in terms of annual growth in house prices in the second quarter.
Our country climbs seven places in the index compared to the first quarter, when it ranked 32nd. This is its highest position in the index since the first quarter of last year, when it was in 18th place, Monitor writes.
Housing prices in Bulgaria increased by 7.5% on an annual basis in the second quarter and by 5% on a six-month basis. Between the first and second quarters alone, the increase was 3.2%. The company, which uses Eurostat data for Bulgaria, specifies that the changes in prices refer to the first quarter of this year.
The European Statistical Office is due to publish its EU housing price index in the second quarter of 7 October. Globally, house prices have risen at their fastest pace since 2005 amid low interest rates, supply shortages and rising household savings that continue to support the housing market, Knight Frank notes.
The average growth of house prices in the 55 countries surveyed reached 9.2% on an annual basis, according to company data. This is the fastest rise in prices from the 12 months to March 2005. They are more than twice as high as 4.3% in the same period last year due to the heat of real estate markets in more and more countries.