Most property sales in bulgaria were people wanting to escape their investment – report

About a third of property sales in Bulgaria in 2011 were motivated by people wanting to get out of their investments, according to a January 16 2012 report by local television station bTV.

The report, quoting a real estate agency study, said that property prices continued to fall in 2011, by nine per cent in Sofia and an average seven per cent countrywide.

However, the number of transactions was stable, according to the bTV report.

The number of transactions conducted in local currency the lev increased against those in euro, a reaction to speculation that the European Union’s common currency was headed for collapse, the report said.

Source: SofiaEcho.com