Residential property prices in Sofia, Bulgaria rose slightly, during the first half of 2006, but stabilised overall, according to Colliers International Semi-annual Residential Market Overview.

Doctors Garden where property prices currently stand at €1,700 per sq m, remains the most expensive area in Sofia, followed by Ivan Vazov district, where the average price reached €1,325 per sq m.

There was a staggering 152% increase in the supply of holiday homes in the mountain regions since June 2005. The most preferred mountain location was Bansko.

The report also reveals that there wsa a 37% increase in the number of coastal resort properties coming on to the market, the equivalent to 6,000 units for the past year. There are currently, over 22,500 units in different stages of development.

The report concluded that in Sofia, as well as in the seaside, the property supply currently exceeds demand.