The average market price of residential property in Bulgaria rose by 27 per cent over the past 12 months, National Statistical Institute (NIS) data showed.Prices increased by 5.4 per cent from April to July 2007 alone, investor.bg reported.Residential property in the coastal city of Varna is the most expensive, with prices reaching 1710 leva a sq m. Lodgings cost 3.9 per cent more than in the first three months of 2007.Sofia was the second most expensive city for residential property in the country. Prices in the capital reach 1647.8 leva a sq m.Another coastal city, Bourgas, ranks third.Residential property in the city was offered at 1366.7 leva a sq m.The less expensive residential property was in the region of Sofia and Kyustendil.

Prices rose in all of the settlements surveyed, investor.bg said.

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