BULGARIAN PROPERTIES Make Unique Overview of the Bulgarian Real Estate Market for the Decade 2000-2010

BULGARIAN PROPERTIES drew up a unique analysis of the Bulgarian real estate market for the period 2000-2010. With the end of the first decade of the new century, during which we witnessed the beginning of a modern real estate market in Bulgaria, we from BULGARIAN PROPERTIES decided to turn back and make an overview and to strike a balance of the existing data of the properties in Bulgaria in the last ten years.

We witnessed a very dynamic ten years for the Bulgarian property sector which brought about drastic increase in prices and in the number of deals, as well as more dynamism to the building sector followed by a plummeting in the last two years.

We used the data of the National Statistical Institute (NSI) as a basis for our research, it being the most comprehensive existing statistics of property prices. This information is relative only to residential properties – apartments in regional cities around the country. Even though it doesn’t include holiday properties, rural houses, plots of land and commercial properties it is comprehensive enough to show the main market trends and the directions in which the market developed. The housing fund data and the issued building permits also come from the NSI and the data about the number of sales come from the Registry Agency.

The main highlights of the analysis are as follows:

• Average annual increase of apartment prices in the country in the past 10 years +11.65%
• Decrease in the number of property sales in the regional cities by 54% compared to the peak values in 2007
• Decrease in the number of issued permits for building new residential buildings compared to the peak valy in 2007 is 56%
• 3.94% increase in the number of residential units in the cities in the period 2004 – 2009.

If you wish to receive on your e-mail the full analysis of the property market in Bulgaria in the period 2000-2010 click here

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© Bulgarian Properties Ltd. 2011.

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