24.04.2012 Property sales up 2% in 1Q 2012
Polina Stoykova, Chief Operations Manager of BULGARIAN PROPERTIES
According to the Registry Agency in 1Q 2012 35,821 sales were concluded in total, as 20,037 them were in the regional cities (56%).
The number of deals in the capital Sofia is 3,324, as same time last year they were 3,644 showing a drop of 8.8% year-on-year. In Varna the drop in property deals is 5.6%, while in Bourgas and Plovdiv there is an increase of 7.17% and 2.56% respectively.
In the first quarter of 2012 property sales were up 2% compared to the same period last year as it was then for the first time after the beginning of the crisis that we noticed a trend of an increase in the number of property sales. This trend continued well into the following quarters but the pace slowed down. The slowdown in the rise of the number of sales started in the second half of 2011 as deals increased by 23% and 48% in 1Q and 2Q respectively year-on-year. In 3Q and 4Q 2011 the rise in the number of property deals in the country was 17% and 6.4% respectively.
The biggest increase in the number of sales is to be found in smaller settlements like Panagyurishte (239%), Chepelare (215%), Omurtag (119%), etc. as this might be due to the dynamic agricultural land market – a trend which began last year and still continues.
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© Bulgarian Properties Ltd. 2012
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