28.10.2011 Drop of apartment prices in regional cities slows down to 0.8% in 3Q 2011
Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES
Average prices of apartments in the regional cities in Bulgaria have dropped by 0.84% compared to the previous quarter and by 6.1% compared to the third quarter of 2010. This makes the last quarter one of the periods with the least drop in apartment prices since the beginning of the crisis. According to NSI data the average price of an apartment in the regional cities in the country is 460 EUR/sq.m.
The real decrease of prices of apartments after inflation (calculated with the Harmonized Index of Consumer Prices HICP) is 0.95% compared to the previous quarter and 8.92% year-on-year (compared to the same quarter in 2010).
For Sofia the nominal decrease in prices is 0.64% compared to the previous quarter and 8.55% year-on-year. After inflation prices of apartments in Sofia decreased by 0.74% compared to the previous quarter and by 11.3% compared to the same period last year. In the last quarter apartments in the capital Sofia were sold for an average of 745 EUR/sq.m. and in Varna - 763 Euros per sq.m.
Three years after the beginning of the crisis we see that there is a slowdown in the price drop which is now close to 0% compared to the previous quarters of 2011. This is a trend we expected to happen and which started in the middle of 2010.
The accumulated nominal price decrease of apartments in the regional cities in the last 3 years is 36.45%, as according to NSI data the price drop in Sofia is 41%. The accumulated real decrease in prices since the beginning of the crisis is 40.8% on average for the country and 45.1% for Sofia.
The detailed data for of the changes in 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 (-0.64%) and real growth (-0.74%)
• Varna – nominal growth (-1.02%) and real growth (-1.12%)
• Plovdiv – nominal growth (+1.91%) and real growth (+1.8%)
• Bourgas – nominal growth (+1.84%) and real growth (+1.73%)
• Stara Zagora – nominal growth (-2.29%) and real growth (-2.39%)
• Rousse – nominal growth (-2.02%)and real growth (-2.13%)
• Veliko Tarnovo – nominal growth (-2.93%) and real growth (-3.04%)
Nominal and real change of prices compared to the same quarter of the previous year:
• Sofia– nominal growth (-8.55%) and real growth (-11.3%)
• Varna – nominal growth (-4.10%) and real growth (-7%)
• Plovdiv – nominal growth (-4.78%) and real growth (-7.66%)
• Bourgas – nominal growth (+1.68%) and real growth (-1.39%)
• Stara Zagora – nominal growth (-4.5%) and real growth (-7.37%)
• Rousse – nominal growth (-0.67%) and real growth (-3.66%)
• Veliko Tarnovo – nominal growth (-12.1%) and real growth (-14.75%)
The nominal decrease in prices compared to the previous quarter is between 0.2% and 3% (with a decrease in the 2Q compared to 1Q of between 1 and 5%) as the biggest price drops are registered in Montana (-3.6%), Pleven (-3.6%), Smolyan (-4.74%), Veliko Tarnovo (-3%) and Yambol (-4.22%).
The drops year-on-year are between 3 and 8% (with between 5% and 10% in 2Q 2011) as the biggest decrease is registered in Gabrovo (-13.8%), Pernik (-10.9%), Shoumen (-10.7%), Veliko Tarnovo (-12%), and Vidin (-10%).
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: email@example.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.
TOP PUBLISHED OFFER
Two-level penthouse for sale in Sofia https://www.bulgarianproperties.com/Two-level_penthouses_in_Bulgaria/AD25103BG_two-level_penthouse_for_sale_in_Sofia.html
Bright apartment with three bedrooms and garage Bright apartment with three bedrooms, located in the prestigious and quiet neighborhood "Vitosha", on the ... read more
|157.00 m2||no||€ 105,000|
TOP SOLD OFFER
Apartments (various types) for sale in Bansko https://www.bulgarianproperties.com/Apartments_(various_types)_in_Bulgaria/AD24529BG_apartments_(various_types)_for_sale_in_Bansko.html
Fully furnished apartments in complex with SPA centre, tavern, garden in ski resort Bansko We are pleased to offer you cosy apartments in complex Banderitsa in the popular winter resort with a modern ... read more
|57.18 m2||no||€ 23,015|
read more newsletters
Bulgaria ranked 11th in the Good Country Index, prepared by the team of independent British political consultant Simon Anholt, Manager.bg writes.
For the purpose of the ranking, Anholt's team uses data from 35 world organizations, including the United Nations and the World Bank, to determine the contribution of individual countries to the overall well-being of humanity over their c... read more
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
SOFIA (Bulgaria), August 17 (SeeNews) - Bulgaria's revenue from foreign tourist arrivals rose by an annual 9.7% to 1.3 billion euro ($1.5 billion) in the first six months of 2018, the tourism ministry said on Friday, quoting data from the central bank.
In June alone, Bulgaria's revenue... read more
All photos, texts, video clips, charts and banners on our website are property of our company or of our partners and are protected by the Copyright Act of the Republic of Bulgaria. Any unauthorized use of photos, texts, videos and other materials from our website by third parties will be subject to immediate claim on the part of the copyright owners. The information on our website is with information and advertising purposes. Alhtough we have made all efforts to provide accurate information, there may be some mistakes. For full and correct information is considered only the information received at the offices of Bulgarian Properties Ltd.