0
Hello,
Favourite properties (0)
Saved searches
Selected for you
Notifications
Subscriptions
Settings
Sign out
Close

Sofia prices rose by 3% in 2014 - analysis based on NSI data

2015-01-23

Author: Polina Stoykova MRICS, Managing Director & Head of Research

According to calculations by BULGARIAN PROPERTIES, based on the data from the National Statistics Institute about the apartments’ prices in the regional cities in Bulgaria, the property prices in the capital of Sofia registered nominal annual increase of +2.9% in 2014. For the country on average the nominal increase is +0.5%. After inflation deduction, the real* increase of property prices in Sofia for 2014 is +4.5%, and +2.1% for the country on average.

The annual property prices in Bulgaria have marked an increase for the first time since the beginning of the crisis and this is fully in line with our forecasts and expectations throughout the whole of 2014 about the end of the downward trend and the beginning of a new stage of the market development.

The property market in Sofia is developing more rapidly and is recovering faster than the markets in the other big cities, as the increase in property prices in the capital city accelerated during the last quarter of 2014. In Q4 in 2014 the average apartments’ prices in Sofia registered a real* annual increase (compared to Q4 of 2013) of +5%. Compared to the previous quarter, the registered increase in Sofia is +1.72%.

The situation is similar in Plovdiv (the second biggest city) – the property prices there during the last quarter of 2014 registered a real* increase of +4.5%, and the real* increase on for the whole 2014 is +4.3%. The property prices in Burgas registered a real* annual increase of +3.4%, and in Varna the registered increase is +0.7%, which is smaller compared to the other big cities but the market there reacted more slowly to the positive trends and we expect them to be more visible in 2015.

The information about Stara Zagora is interesting – there the property prices registered real annual increase of +4.26% which positions the city among the ones with biggest increases in property prices and puts them in one category with Sofia and Plovdiv.

The average selling prices of the apartments in the big cities in Bulgaria in 2014, according to NSI data, are as follows:

Sofia – 757 Euro/sq.m.
Plovdiv – 487 Euro/sq.m.
Varna – 704 Euro/sq.m.
Bourgas – 581 Euro/sq.m.
Stara Zagora – 457 Euro/sq.m.
Veliko Тarnovo – 373 Euro/sq.m.

* real change - Real change is estimated after inflation deduction, calculated with the Harmonized Index of Consumer Prices (HICP). The deduction of inflation provides a more accurate estimation of the real price changes, so when using the NSI data we always make the necessary calculations to obtain a more precise market picture.


  Read more news

Share
Central Park - your New York in Sofia!
Homes for sale in one of the largest new construction developments in Sofia!

A unique gated complex recreating the style and atmosphere of New York's Central Park. Modern buildings, space, greenery and breathtaking views! A future icon of the Bulgarian capital that will bring a new standard for quality of life. Choose your home now - big choice and attractive prices!
See More
Rural Houses in Bulgaria - wonderful in every season!
A real peace of heaven in the Bulgarian countryside! Your own holiday home in a magic world hidden from the stress and the noise of urban life.

Join us on a journey back to nature!
See More

More News

latest news
We've opened a new office in the heart of Dupnitsa: Visit us at Knyaz Boris I Street, No. 1

We are proud to announce the opening of our new office in the city of Dupnitsa, located at Knyaz Boris I Street, No. 1, Floor 1.

This strategic move is part of our mission to be as close as possible to our customers and to provide high quality local service for both buyers and sellers.

In our new office, clients will be able to take advantage of the ful...

28 March, 2024
latest news
Selling property in Bulgaria? Check out what documents you will need!

In a series of materials, we present you with useful information on how to best prepare your home for viewings and how to determine the right price of your property.

Here we will focus on the heart of the transaction. Buying and selling real estate often seems a complicated and cumbersome procedure, requiring a number of documents and communication with various institutions. And buy...

22 March, 2024
latest news
How much is your property worth and how to set a perfect listing price?

When deciding, or even just considering listing a property for sale, our first question is often: What price should I be looking for my property.

Every homeowner is probably trying to do their own mini market research. They look at the listings in their area, read the latest statistics on property transactions, turn to an agency to get an idea of what they can get.

Ve...

18 March, 2024
Company news
BULGARIAN PROPERTIES Agents of March 2024

Spring comes with new opportunities in the real estate market in Bulgaria!

February showed us significant activity in the real estate market, spanning the entire country, and that gives us plenty of reasons to be optimistic.

Latest market data and trends:

- We are seeing an increase in issued new building permits - a sign of growing interest in new dev...

05 March, 2024

REQUEST DETAILS