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Property sales up 2% in 1Q 2012
This is what the Bulgarian Registry Agency announced yesterday with regard to the number of real estate deals around the country. The data confirms the general trend of retaining the sales similar to last year, which BULGARIAN PROPERTIES outlined in its real estate analysis for the first quarter of 2012.
According to the Registry Agency in 1Q 2012 35,821 sales were concluded in total, as 20,037 them were in the regional cities (56%).
The number of deals in the capital Sofia is 3,324, as same time last year they were 3,644 showing a drop of 8.8% year-on-year. In Varna the drop in property deals is 5.6%, while in Bourgas and Plovdiv there is an increase of 7.17% and 2.56% respectively.
In the first quarter of 2012 property sales were up 2% compared to the same period last year as it was then for the first time after the beginning of the crisis that we noticed a trend of an increase in the number of property sales. This trend continued well into the following quarters but the pace slowed down. The slowdown in the rise of the number of sales started in the second half of 2011 as deals increased by 23% and 48% in 1Q and 2Q respectively year-on-year. In 3Q and 4Q 2011 the rise in the number of property deals in the country was 17% and 6.4% respectively.
The biggest increase in the number of sales is to be found in smaller settlements like Panagyurishte (239%), Chepelare (215%), Omurtag (119%), etc. as this might be due to the dynamic agricultural land market – a trend which began last year and still continues.
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Copyright: 2012 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. cannot be held responsible for loss or damage as a result of decisions made based on the information presented in this article.
© Bulgarian Properties Ltd. 2012
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