advertisement
Fri, Feb 10 2012
Housing prices in Bulgaria fell 28 per cent year-on-year – official
Photo: Мария Съботинова
Average market prices of housing in Bulgaria dropped by five per cent in the third quarter of 2009, a decline of 28 per cent year-on-year, according to National Statistical Institute figures released on October 23 2009.
All regional centres saw a decline in prices in Q3, with the sharpest drops in Montana (16.3 per cent), Vidin (10.1 per cent) and Shoumen (10 per cent).
In Sofia, the Q3 decline in housing prices was six per cent.
The fall in Q3 was less steep than in the second quarter, where figures were 10 per cent lower than in Q1.
In the third quarter, housing prices were highest in Varna, at 1770 leva a sq m, followed by Sofia at 1640.33 leva a sq m and Bourgas at 1379.83 leva a sq m.
The lowest average market price for housing was recorded, according to the National Statistical Institute, in Kyustendil, at 545.94 leva a sq m.
All regional centres saw a decline in prices in Q3, with the sharpest drops in Montana (16.3 per cent), Vidin (10.1 per cent) and Shoumen (10 per cent).
In Sofia, the Q3 decline in housing prices was six per cent.
The fall in Q3 was less steep than in the second quarter, where figures were 10 per cent lower than in Q1.
In the third quarter, housing prices were highest in Varna, at 1770 leva a sq m, followed by Sofia at 1640.33 leva a sq m and Bourgas at 1379.83 leva a sq m.
The lowest average market price for housing was recorded, according to the National Statistical Institute, in Kyustendil, at 545.94 leva a sq m.
-
Print
-
Send via email
- Translate to
-
Share:
Comments
To post comments, please, Login or Register.
Please read the The Sofia Echo forum comments policy.
More in this category
Raiffeisen Real Estate: Prices of Sofia homes returned to 2007 levels
Average market prices of homes in Sofia fell by one per cent in the fourth quarter of 2011 compared to the same period of 2010, according to the Raiffeisen Real Estate Index, as quoted by Klasa daily.
Most property sales in Bulgaria were people wanting to escape their investment – report
Proportionately, the number of transactions in leva increased as people reacted to speculation that the euro would disappear.
Bulgarian property market: Home finance easier, media report says
Nearly all banks are ready to finance between 80 per cent and 90 per cent of the price of a home, provided it is a good building in a large city, Bulgarian daily says.
Bulgarian property prices ‘have hit bottom’ brokers say – report
Property prices in Bulgaria were five to 10 per cent lower in 2011 than in 2010, while initial estimates for this year are that they will remain largely unchanged, with transactions remaining at ‘crisis levels’.
Budapest, Skopje at top among ‘Europe’s top 20 places to invest in property’
Bulgaria’s capital city Sofia ranks 17th, report says, quoting Global Property Guide.
© 2000-2012, Sofia Echo Media Ltd.
Web Design by RIZN
Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted.
Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only
with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site.
Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com.
Sofia Echo Media cannot be held responsible for the statements contained in visitor comments.
The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the
price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes,
and should not be used as a basis for decisions about buying or selling stock options.
- Economedia Group portfolio:
- In Bulgarian:
-
Business:
Капитал,
Кариери,
Пазари,
Ho Re Mag,
Регал,
Градът.bg,
Одит,
Foton.bg,
Online shop
- News: Дневник, Европа, Foreign Policy - България
- IT: IDG.BG, Computerworld, PC World, CIO, Networkworld
- Entertainment: Бакхус
-
In English:
The Sofia Echo
I have seen a marked increase in enquiries for rural village houses in last few months, but agree that apartments in resorts and cities were over priced and there were too many dodgy developers around as well as bad agents. Hopefully as others say, only decent ones will survive down turn.
It will take years before prices recovered. The tourist industry has built hotels for tourists who do not recur, the price of land has risen for the same reason, and the price of apartments has rail for it to sell to private individuals denominated. Bulgaria has received a bad reputation, and people who invested in the apartments have been bad landlords who charge excessive prices for electricity and water. And Bulgaria, which has an average income per household at 777 Lev will not be able to afford to buy these apartments. And for the rest of us, there's more tursit [...]
Read the full comment friendly countries to invest in that will provide a better return.
This happens all the time look at the UK in the (1980/1990)2000/2008 up and down like a yoyo property will increase again given time.
Its called 'reality' expat.. i pitty anybody who bought into the fake surge earlier this decade... big shock a comin!
this is called a deflation ! the longer you wait the more likely you will get the property cheaper, which results that no one is buying now, because one can expect to save money by waiting ! when no one is buying the prices will fall again and this results in a downward spiral !!! VERY, VERY DANGEROUS. Japan was/still is in such a situation for more than 10 years ! (admitted due to other circumstances).
nevertheless I strongly believe that the BG real estate market was way too overpriced, especially in combination of the quality [...]
Read the full comment the buildings are done!!
There must be a mind change in quality of service and construction !!! HOPEFULLY only the serious and good quality companies will survive !!!
where is that .
where is that .
whats the prices like in dobrich