Bulgaria’s Sofia property prices rise 6% y/y in Jan-Sept

Housing prices in Bulgaria’s capital Sofia have risen by 6% on the year in the first nine months of 2015 and the number of closed property deals has increased by 20% over the same period, according to data of Bulgarian Properties real estate agency.

The average purchase price of apartments in Sofia was EUR 781 per square meter in the first nine months of 2015 compared to EUR 738 sq.m. for the same period last year, Bulgarian Properties said in its latest Sofia housing prices report.

The real estate agency said that its calculations based on data from the Registry Agency also showed that a total of 16,838 property sales were completed in the period January-September 2015, compared to 13,888 for the same period last year.

The average price of the apartments sold in Sofia in the third quarter was EUR 794/sq.m., compared to EUR 780/sq.m. for the prior quarter and EUR 750/sq.m. for the third quarter of last year. The average purchase price of an apartment in Sofia was EUR 66,500 in the third quarter.

"Thus, we already have a clear vision of how the year is going to end – with around 6% increase of property prices and 20 to 30% more sales,” Polina Stoykova MRICS, Managing Director & Head of Research at Bulgarian Properties, commented in a statement.

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