BULGARIAN PROPERTIES Price Indexes – December 2012

2012 brought an overall stabilization to the property market in Bulgaria. We can now summarize the main trends as follows:

• Positive trends for the vacation properties on the Black Sea coast, especially in Sunny Beach but also in Varna. The Sunny Beach listing price index is currently with the highest value among the 4 locations that we follow. This clearly shows that 2012 was quite successful for the beach vacation property market in Bulgaria.

• The listing prices of apartments in the capital of Sofia have dropped by 4% on average which is the lowest drop since the beginning of the crisis. This biggest city market in Bulgaria lags behind the vacation market on the Black Sea coast due to a different demand structure. It is more dependant on the local demand and the fundamental factors, while the vacation market is influenced mainly by foreign demand which has been growing. Still, we can say that 2012 was good for the market in Sofia and it is now the right time to purchase a property, so we expect the buyers to return to the market in 2013.

• The property market in Bansko (which represents the ski property market in general) suffered from a low demand and a continuous fall in prices over the past year. It is the only market where listing price falls were biggest in 2012 reaching -19.25% on average. While the beach and the city markets saw price stabilizations, listing prices in Bansko came down to their lowest levels in the past summer. Over the 4Q of 2012 the market showed some signs of recovery in expectation of a successful winter season and a growth in demand.

BULGARIAN PROPERTIES' indexes measure apartments listing prices in 4 main locations - Sofia, Varna, Sunny Beach and Bansko in order to provide timely information about the market trends in the biggest city and vacation housing markets in Bulgaria.

The key points for each index for December 2012 are as follows:

Sofia
• Change in last month: -3.34%
• Change in last 12 months: -2.29%
• Change from the highest value: -44.14%

The current BULGARIAN PROPERTIES Index value for the listing prices of apartments in Sofia for December 2012 is 55.86 percentage points. The average monthly listing price of the apartments in the capital in December is 835 Euro/sq.m. The average annual drop in listing prices of apartments in Sofia is -4%.

Varna
• Change in last month: +1.01%
• Change in last 12 months: +0.36%
• Change from the highest value: -40.86%

The current BULGARIAN PROPERTIES Index value for the listing prices of apartments in Varna for December 2012 is 59.14 percentage points. The average monthly listing price of the apartments in the second biggest city in Bulgaria is 881 Euro/sq.m. The average annual drop in listing prices of apartments in Varna is very small (-0.5%) and we can say prices in Varna remained unchanged in 2012.

Sunny Beach
• Change in last month: +1.56%
• Change in last 12 months: +17.70%
• Change from the highest value: -33.38%

The current BULGARIAN PROPERTIES Index value for the listing prices of apartments in Sunny Beach for December 2012 is 66.62 percentage points. The average monthly listing price of the apartments in the biggest beach resort in Bulgaria is 807 Euro/sq.m. The average annual drop in listing prices of apartments in Sunny Beach in 2012 is -1.2%.

Bansko
• Change in last month: +8.96%
• Change in last 12 months: +4.72%
• Change from the highest value: -52.80%

The current BULGARIAN PROPERTIES Index value for the listing prices of apartments in Bansko for December 2012 is 47.20 percentage points. The average monthly listing price of the apartments in the biggest ski resort in Bulgaria is 604 Euro/sq.m. The average annual drop in listing prices of apartments in Bansko is -19.25%.

Next update of the BULGARIAN PROPERTIES Indexes will be on 6th Feb 2013.

For more information or request of our latest property market reports, you can call us on +359 2 9 11 50 or send us an e-mail.

Information about BULGARIAN PROPERTIES’ Indexes (BPI) and the methodology

See the archive with price index information for previous months

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Copyright: 2013 Bulgarian Properties Ltd. All rights reserved. For further information or advice please contact us on tel.: +359 2 9 11 50 or e-mail: info@bulgarianproperties.com. The use of this article by third parties is allowed only with proper quotations of the source www.BulgarianProperties.com and the Author of the article. The data in this material has been collected by the Author and Bulgarian Properties Ltd. and is presented for information purposes only. We have made every effort to ensure the accuracy of the data. However, Bulgarian Properties Ltd. and the Author cannot be held responsible for loss or damage as a result of decisions made based on the information presented in this article.
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