Sales prices in prime residential areas in Bulgaria during the second half of 2005 were in the range of EUR 820-1650 per square meter.

It marks an increase in the upper part of the range as compared to the first six months of the year, shows data of the Sofia office of Colliers International, one of the world’s leading real estate companies.

"External factors that would influence the demand are more new companies coming in with more search for bigger space and more people coming to live in Bulgaria. This will definitely have a positive effect on the property values and prices," said Atanas Garov, Managing Director at Colliers International Bulgaria, in an exclusive interview for Sofia News Agency.

The real estate market, especially the residential segment, saw a lot of interest and newcomers in 2004. In the recent months we have been witnessing not only the professionalization of the market, but also the interest of solid and long-term professional developers and investors. They can be serious players not only in the region, but also on the continent.

In his words real estate definitely became a dinner topic in Bulgaria over the last few years.

"In the last couple of years we have witnessed segmentation of the market and strong developments in each of the niches. But we can say that the euphoria has passed away. "

Taking up a question about the office premises market in Bulgaria, Ivan Velkov, General Manager at Colliers International Bulgaria, said the total available amount of premises is not that scary as a number to any international company or multinational tenant.

"Overall supply of Class A and Class B office space in Sofia has increased by approximately 10% in the second half of 2005 and is now 250,000 m2. Rental levels for Class A office premises average EUR 12.5/m2/month."