2nd Danube Bridge Fuels Real Estate Market Three-Fold
The price of real estates in Vidin, alongside the Danube River, has soared three-fold on the background of progressing negotiations for the construction of Danube Bridge-II, according to local realtors. Last week the government signed a crucial agreement over the project funding with EUR 70 M from the European Commission. The second bridge on the Danube is designed to span Bulgaria's Vidin with Romania's Kalafat. Real estate agents in Vidin told Bulgarian News Agency they were recording a sustainable leap in prices since the end of 2004, concerning mainly prices of small-size apartments. The average cost of suburban panel apartments varies between EUR 180 and EUR 220 per square meter, while that of brick construction rarely falls beneath EUR 220 per square meter. Newly constructed buildings in Vidin are traded at approximately EUR 350-380, while agriculture land is offered at BGN 50-100 per decare, real estate sources said. They confirmed there was an increasing interest from foreigners to purchase real estates in the region, which eventually fuelled the prices over the last few months.