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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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:
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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.
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...
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.