Data of the Registry Agency on the Volume of Property Deals in 3Q 2011

At the end of last week the Registry Agency announced its data of the number of property deals around Bulgaria for the previous quarter of 2011. The data shows that the number of realized property sales continues to increase year-on-year while their pace has slowed down compared to the previous quarter. The annual increase in sales for the 3Q is 17% while in the 2Q the market had a record growth of 48% year-on-year.

Real estate sales in the regional cities have also slowed down their pace – their numbers have increased by 8% in the 3Q 2011 on the background of a 40% growth in the 2Q, year-on-year. Property deals in Sofia dropped by 19% compared to last year. In the Black Sea city of Varna deal volumes are similar to those for the same period in 2010, while in the cities of Bourgas and Plovdiv there is an increase of 8.5% and 12% respectively.

Another interesting observation is that while in most regional cities the relative share of the deals from the overall volume of sales has remained almost the same compared to the previous quarters, the share of sales in the capital Sofia has decreased from a historic average level of about 20% to 14% in the 3Q of 2011.

Another important thing the data of the Registry Agency shows is the ongoing considerable increase in property sales in the small settlements, which is mainly due to deals with arable land. The agricultural land market is very active this year which is a positive sign not only for this market segment but for the whole real estate market and the economy as a whole.

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