Global Property Guide: Bulgarian house price increased by 2.32% in Q1 2014

According to data provided by the Global Property Guide, based on the figures from the National Statistics Institute (NSI), the property prices in Bulgaria have increased by 2.3% in the first quarter of 2014, in accordance to the same period last year. Compared to the previous quarter the increase was a little bit more than 1%. However, these data takes into account the inflation. The Bulgarian economy has seen deflation, which in February exceeded 2.5% annually. In nominal terms in the first quarter Bulgarian housing prices have remained almost unchanged on an annual basis, as a decrease of 0.05% was registered, compared to the previous quarter the growth was 0.22%.

The Global Property Guide reported that the global house price boom continued during the year to the first quarter of 2014, gathering pace. Dubai remains the leader in the ranking of the Global Property Guide on growth of house prices. Dubai has had a spectacular performance over the past two and a half years. Its latest performance was an amazing 31.57% annual house price rise during the past year Q1 2014. Property demand is surging and the economy remains strong. The second house market with increasing prices in the world is the capital of Estonia - Tallinn. The average purchase price of the dwellings there increased with 20.04% during Q1 of 2014 in Tallin, much higher than the 5.59% growth seen in the same period last year. The third position is occupied by Taiwan with growth of 11.28% on a year basis and 1.66% on a quarter basis. The op ten housing markets with growing prices include Beijing (China), the Philippines, New Zealand, Australia, Ireland, Iceland and Great Britain.

Greece was the world's weakest housing market in the global survey with house prices reduced with 7.08% during the first Q1 of 2014, this was its smallest decline since Q3 2011. The Spainish house prices dropped by 5.41% on a year basis in Q1 2014, but this is an improvement compared to the 12.82% annual decline seen the previous year.

In Russia the house prices decreased by 5.15% during Q1of 2014, which is worse than the decline of 0.32% the previous year. Ukraine, France, Norway, and Finland also performed more poorly than the previous year.

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