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 ($1,219) per sq m in the first quarter, the realtor said in a quarterly property market analysis published last week.
The average total selling price of apartments rose to 101,130 euro from 90,960 euro a year earlier, Bulgarian Properties said, adding the data is based on prices of concluded sale and purchase agreements.
Last month, data of the Bulgarian registry agency showed that most of the property transactions in the country entered in the registry in the first quarter were signed in Sofia but their number has decreased - 5,285, compared to 5,641 in the first quarter of 2019.
According to Bulgarian Properties, the residential market in Sofia has been exceptionally active until the middle of March, when the government imposed a countrywide state of emergency to contain the coronavirus outbreak.
There has been a certain degree of revival of the market as of the middle of April, as people have got used to the new situation and started resuming the implementation of their business plans and undertakings, the realtor concluded.
($ = 0.918480 euro)
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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...