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'Despite the dynamic development of the construction sector in Central and Eastern Europe (CEE), the offering of new housing estates still can't satisfy the demand completely' the CEE director of ‘UniCredit Group' Erich Hampel says.

Wednesday, May 21, 2008

Although the region has high rate of own property, the households still look for a way of improving the living standard.
‘In the next years every two of ten households plans to buy house or apartment, which to live in' Hampel adds.
The possession of own property rate in the region is very high - 77% average, which is 13% more than the average percent for Western Europe (WE).
Bulgaria ranks in Top 3 of countries with the most property owners - 91% of the households own the estate, they live in.
Higher is the percent only in Croatia (92%) and Romania (96%).
The quality of the real estates, though, is still quite low and far behind the average standard of the West European countries, because most of the homes (round 70%) have been built in the period 1945 - 1990.
The ‘UniCredit Group''s inquiry shows that 56% of CEE population lives in houses for 44% living in apartments.
Though the common quantity of real estates in the CEE region is low compared to the Western European ratings, Bulgaria outstrips all rankings.
Bulgaria is record - holder for the EU with its 486 real estates per 1,000 people (average WE ratings shows 472 real estates per 1,000 people.
Bulgarians rank also among the most enterprising people as 6% of the population intends to buy properties with investment aims.

Source: Best BG Properties