“Sofia Ranks 15th in Fastest Growing Housing Prices According to International Rankings”

Sofia is in 15th place among 150 cities in the world in terms of the fastest growth in housing prices, according to a ranking of an international consulting company. Sofia is ranked after Prague and ahead of Phoenix (USA), Haifa (Israel) and Bristol (UK).

In the ranking of the consulting company by country, Bulgaria is placed in 13th place among 56 countries and territories. Bulgaria is ahead of Croatia, Singapore and Poland and is right behind Lithuania.

The annual growth of housing prices in the cities included in the ranking is slightly below 10 percent. In 133 out of a total of 150 cities, there is an increase in housing prices on an annual basis.

Although house price growth in the major cities observed by the consultants is greater than the overall appreciation in the respective countries, the difference in price movements is narrowing.

Only 16 cities saw price declines within a year, including cities in Canada, New Zealand, China and Australia.

Curiously, the gap between price movements in the best and worst performing city is widening in a number of countries.

In the US and Australia, for example, the gap between the cities with the strongest price growth Miami (28%) and Adelaide (21%) and the worst performing cities, San Francisco (6%) and Sydney (-4%) already exceeds 22 and 25 percent, respectively.

Istanbul, Ankara and Izmir are the cities in the world with the fastest growth in housing prices, but this is due to high inflation in Turkey. The top 10 also includes Miami, Riyadh, Vilnius, Tallinn, Adelaide, Skopje and Reykjavik.

Of the Central European capitals, Bratislava occupies the 13th place in the ranking, Prague is in the 14th place and Budapest is in the 21st position.

Follow the latest news with BLITZ and on Telegram. Join the channel here