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NSI: Home Prices in Bulgaria 28% Lower y-o-y
According to the latest analysis of the Bulgaria National Statistics Institute (NSI) the average decrease in home prices compared to 2008 is 28%. The average price of residential properties in Bulgaria for the period July-September 2009 is 1,021 BGN (about 522 EUR) per square meter as for the same period last year the average price was 1,418 BGN (about 725 EUR) per square meter.
In Sofia residential property prices have decreased by 6% in the third quarter of 2009 compared to the previous quarter but they still remain among the highest in the country – at an average of 1,640 BGN (about 838 EUR) per square meter. Only the apartments in the Black Sea city of Varna are more expansive as in the third quarter they were sold at an average price of 1,770 BGN (about 905 EUR) per square meter. In Varna the price decrease compared to the previous quarter is only 3%. The other city with comparatively expensive residential properties is Bourgas. Compared to the last quarter prices there have fallen by 6% and are already 1,379 BGN (about 705 EUR) per square meter.
The analyses of BULGARIAN PROPERTIES on the changes in property prices in 2009 show similar data to that of the NSI as the decrease in the different property segments caries between 25 and 55%.
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