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Bulgarian housing prices are in decline

Thursday, Oct 29, 2009

In Q3, the average price of a residential property unit in the country has decreased by 5%, compared to the preceding quarter.
In annual terms, the decline has amounted to 28%, Sofia Echo reports, with reference to the National Institute of Statistics.
The sharpest decline in July-September, in comparison to three preceding months, has been registered in the cities of Montana (16.3%), Vidin (10.1%) and Shumen (10%). In Sofia, the figure has worked out 6%. It is noted that in Q3 the pace of price declination has slowed down, compared to the preceding quarter.
So far, the highest home prices in Bulgaria have been registered in Varna (?905 per a sq. m.), Sofia (?839 per a sq. m.) and Burgas (?706 per a sq. m.), while the lowest have been observed in Kyustendile (?279 per a sq. m.).
We would like to remind you that, according to Raiffeisen Real Estate, housing in Bulgarian capital has depreciated by 16% in Q3, compared to the same period last year, while commercial properties prices decreased by 25%.

Source: Prian.ru