NEWSLETTER

26.07.2012 First growth of apartment prices in Bulgaria since the beginning of the crisis

Polina Stoykova, Chief Operations Manager and Head of Research

The newest data of the National Statistics Institute (NSI) about the apartments in the big cities in Bulgaria in the second quarter of 2012 shows that for the first time since the beginning of the crisis there was a small positive price growth of 0.2% on a quarterly basis.

This confirms the recently released analysis of BULGARIAN PROPERTIES for the second quarter of 2012, according to which the property prices in Bulgaria have remained stable over the past few months and the process of stabilization of the Bulgarian property market, which started in the second half of 2011, continues. The latest NSI data also confirms our forecast from December 2010 with a slight delay due to the deepening of the Eurozone crisis during the second half of 2011.

Good news is that even the highest quarterly price drops are within 5% and prices in half of the biggest cities in Bulgaria have grown over the past quarter with between 0.5% and 3%.

On an annual basis (compared to 2Q 2011) prices of apartments have decreased by an average of -2.6%. The real drop in average apartment prices after inflation (calculated with the Harmonized Index of Consumer Prices HICP) is -0.11% compared to the previous quarter and -4.36% year-on-year (compared to the same quarter in 2011).

According to NSI data the average price of an apartment in Bulgarias regional cities in the second quarter of 2012 is 453 Euro per sq.m. (about 1 Euro more compared to the previous quarter) and prices in the capital Sofia are still the highest among the big cities. The prices at which apartments in the big cities were sold in the second three months of 2012 are as follows:

Sofia 745 Euro/sq.m.
Varna 730 Euro/sq.m.
Plovdiv 486 Euro/sq.m.
Bourgas 588 Euro/sq.m.
Stara Zagora 454 Euro/sq.m.
Rousse 445 Euro/sq.m.
Veliko Тarnovo 364 Euro/sq.m.

In 2Q 2012 prices of apartments in Sofia have decreased by -0.54% compared to the previous quarter, as the drop year-on-year is -0.57%. After inflation prices of apartments in Sofia have dropped by -0.82% compared to the previous quarter and by -2.36% compared to the same period last year.

The accumulated nominal price drop of apartments in the regional cities in the last few years since the beginning of the crisis is -37.58%, as in Sofia the accumulated drop is -41%. The accumulated real decrease in prices since the beginning of the crisis is -42.87% on average for the country and -46% for Sofia.

The detailed data for of the changes in apartment prices in the big cities around the country in 2Q 2012 is as follows:

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

Sofia nominal growth (-0.54%) and real growth (-0.82%)
Varna nominal growth (-0.69%) and real growth (-0.97%)
Plovdiv nominal growth (+2.66%) and real growth (+2.38%)
Bourgas nominal growth (-0.64%) and real growth (-0.66%)
Stara Zagora nominal growth (+1.41%) and real growth (+1.13%)
Rousse nominal growth (+1.1%) and real growth (+0.82%)
Veliko Tarnovo nominal growth (+3.11%) and real growth (+2.82%)

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

Sofia nominal growth (-0.57%) and real growth (-2.36%)
Varna nominal growth (-5.28%) and real growth (-6.99%)
Plovdiv nominal growth (-0.72%) and real growth (-2.5%)
Bourgas nominal growth (-1.02%) and real growth (-2.8%)
Stara Zagora nominal growth (+0.74%) and real growth (-1.08%)
Rousse nominal growth (-1.46%) and real growth (-3.23%)
Veliko Tarnovo nominal growth (-2.11%) and real growth (-3.87%)

---
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. 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.
Bulgarian Properties Ltd. 2012.



TOP PUBLISHED OFFER

 

TOP SOLD OFFER

 Ap. 103



  read more newsletters
Comments from clients
I can say without hesitation that Gergania Tesava is truly someone you can really depend on.Anything ...
A responsible approach to work, friendly attitude to customers, only positive recommendations. ...
I voice my support and admiration that is being supplied by the determined team at your Sunny Beach ...
Our team of experienced lawyers can consult you on any legal matter
Properties on the Bulgarian Black Sea Coast - top selection!
View the best properties in the top Bulgarian ski resorts!
Don't waste time for vewing trips! Organise property viewings via Skype!
Read topical information about Bulgarian real estate, economy and tourism!
Latest News
We opened a new office in Veliko Tarnovo!

11/March/2019
BULGARIAN PROPERTIES

We invite you to visit our new office in Veliko Tarnovo!

It is located in the center of the town, next to the monument of Vasil Levski and the Marno Pole Park.

Our new address is: 17A Vasil Levski Blvd., floor 1, Veliko Tarnovo
Look at the office on the map
Phone: +359 62 520 289
Mobile: +359 882 817 481

Our regional manager Nikolay... read more

LATEST REGIONAL NEWS
Special Themed Museum Tours Begin This Saturday in "Square 500"

21/February/2019
Novinite.com

Special themed museum tours begin this Saturday in "Square 500".

The permanent exhibition of the National Gallery presents, in principle, the most significant examples of Bulgarian fine art, as well as works by European masters, art from Asia, Africa and Latin America.

The museum tours that start this Saturday are very different from anything that has been done so far... read more

DID YOU KNOW?
The Best New Holiday Hotspots for a Last Minute Summer Holiday

06/August/2018
https://www.novinite.com

Standard.co.uk - Schools out and August is finally here, which means its time to get away. The heatwave was fine while it lasted but that was just the warm-up act and were thirsty for more.

And the good news about keeping things last-minute (flexible) means there are deals to be ... read more