NEWSLETTER

2011-04-28

29.04.2011 NSI data: Nominal Prices of Apartments in Bulgaria Fall by 2.34% 1Q 2011. Real Price Drop after Inflation Is 3.93%

On 21.04.2011 the Bulgarian National Statistical Institute (NSI) announced its data for 1Q 2011 for the prices of apartments in the regional cities around the country. Statistics shows that the decrease in the prices continues but now it has slowed down significantly. Average prices of apartments in Bulgaria have dropped nominally by 2.34% compared to the previous quarter and by 5.62% compared to the first quarter of 2010. The real decrease of prices of apartments after inflation is 3.93% compared to the previous quarter and 9.68% year-on-year (compared to the same quarter in 2010).

For Sofia the nominal decrease in prices is 4.42% compared to the previous quarter and 3.95% year-on-year. After inflation prices of apartments in Sofia decreased by 5.97% compared to the previous quarter and by 8.09% compared to the same period last year.

The data for apartment prices in the big cities around the country is as follows:

Nominal and real change of prices compared to the previous quarter:

• Sofia – nominal growth (-4.42) and real growth (-5.97)
• Varna – nominal growth (-2.39) and real growth (-3.99)
• Plovdiv – nominal growth (-2.80) and real growth (-4.38)
• Bourgas – nominal growth (2.06) and real growth (0.39)
• Stara Zagora – nominal growth (1.95) and real growth (0.29)
• Rousse – nominal growth (2.51) and real growth (0.84)
• Veliko Tarnovo – nominal growth (-3.82) and real growth (-5.38)

Nominal and real change of prices compared to the same quarter of the previous year:

• Sofia – nominal growth (-3.95) and real growth (-8.09)
• Varna – nominal growth (-8.53) and real growth (-12.47)
• Plovdiv – nominal growth (-2.38) and real growth (-6.59)
• Bourgas – nominal growth (-6.47) and real growth (-10.50)
• Stara Zagora – nominal growth (2.37) and real growth (-2.04)
• Rousse – nominal growth (-7.86) and real growth (-11.83)
• Veliko Tarnovo – nominal growth (-10.10) and real growth (-13.98)

The decrease in prices compared to the previous quarter is between 2 and 5%. The bigger price drops year-on-year are normal as in the first 2 quarters of 2010 the process of price reduction continued and the market became more stable in the second half of 2010. The accumulated nominal price decrease compared to their peak value in 3Q 2008 is 34.87% (average for the country) while the percent for the capital Sofia is 39.40%. The accumulated real price decrease (after inflation) from their peak value until now is 39.10% on average for the country and 43.34% for Sofia.

For more information about the quarterly fluctuations of apartment prices please view the graphs above.

Copyright: 2011 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. 2011.

Share
Come for video viewings of properties in Bulgaria!
Only on our website you will find thousands of properties situated all around Bulgaria for which we have shot videos. Don't waste time, view them online - on your phone, laptop or tablet, at a convenient time and without the need for an inspection trip and personal visit. Welcome for video viewings with BULGARIAN PROPERTIES!
See More
Properties with 360-degree virtual tours
Feel the unique atmosphere of Bulgarian properties with the virtual tours we offer! At any time, with just one click, you can travel to your dream home, with no need for appointments and trips.

The virtual tours are taken personally by our team and are with guaranteed authenticity. We show you every detail of the property, just like being live in there!
See More

More News

latest news
Market trends in Bulgaria at the start of the new season

We are slowly returning to our normal everyday lives and the Bulgarian property market is experiencing a growing demand and a rising volume of deals after the corona virus lockdown.

Here are the present market trends which mark the start of a new beginning for the property market in Bulgaria:

🔵 Technology stays with us to help us in the new reality! We will ne...

19 May, 2020
Press & Media
SeeNews: Sofia's avg housing prices up 4.0% in Q1

The average selling price of residential properties in Bulgaria's capital Sofia increased by 4.0% on an annual comparison basis in the first quarter of 2020, local company Bulgarian Properties said.

The average price of dwellings in Sofia reached 1,120 euro ($1,219) per sq m in the first quarter, the realtor said in a quarterly property market analysis published last week.
...

11 May, 2020
latest news
Prices in Sofia increase with 4% in Q1 2020

High activity during the first 3 months of the year and acceleration of the price growth to about 4% on an annual basis. This is how the real estate market in the Bulgarian capital of Sofia developed until mid-March, when the state of emergency was introduced and many economic activities where put on hold.

Average Prices and Annual Change

In the first quarter of 2020...

08 May, 2020
latest news
The Sun: Bulgaria’s Sunny Beach hopes to welcome tourists by July

BRITS could return to Bulgaria's Sunny Beach as soon as July as the country reduces its lockdown measures.

To encourage tourists, beaches will also offer free loungers, sun beds and tables when they open again for business.

Bulgaria has managed to keep coronavirus cases relatively low - the country has reported just 1,704 infections, and 50 deaths.

A st...

07 May, 2020

REQUEST DETAILS