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NSI: Minimal Change in Apartment Prices in Bulgaria in 3Q 2010
A minimal decrease in residential property prices in the period July-September is what the Bulgarian National Statistical Institute (NSI) reports, as in some big cities including the capital Sofia there is even a slight price increase. Statistics shows that compared to the previous quarter the prices on which deals are concluded have decreased insignificantly by 1.2%. Apartment prices have decreased by 6% on an annual basis, NSI data reads.
The price decrease is slightly higher compared to the second quarter of 2010 when it was just 0.8%; this decrease was the highest in the first three months of the year – 2.3%. According to statistics prices of residential properties in Bulgaria have dropped by 6% since last summer.
The data is similar to that in the BULGARIAN PROPERTIES 3Q market analysis which reads that the drop in residential property prices has slowed down in the last few months.
According to the company’s market analysis prices of residential properties have become more stable, as it is with the small apartments that the price drop is minimal. However, there are still no convincing and clear trends showing the beginning of a recovery, which once again shows that the market’s coming out of the crisis will most probably be a long process.
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Copyright: 2010 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. 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. 2010.
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