Real estate sales in Bulgaria up 23% in 1Q 2013
This is what the Bulgarian Registry Agency announced with regard to the number of real estate deals around the country for the first quarter of 2013. According to the Registry Agency, a total of 44,174 sales were concluded in 1Q 2013, as 24,061 were in the regional cities (55%).
The number of deals in the capital Sofia is 3,600, as same time last year they were 3,324 showing a rise of 8.3% year-on-year. In Varna the increase in property deals is 18% in 1Q 2013, while in Bourgas there is a rise of 17.5%. Plovdiv is among the leaders with regard to property deals rise - by 28.6% year-on-year.
The property sales in the regional cities were up 20% in Q1 compared to the same period last year showing that the city markets are waking up following the recovery on the summer resorts markets from last year.
The overall increase in sales is a positive signal from the property market and confirms the return of interest by local and foreign buyers. This trend will be at the heart of the market recovery from the crisis.
For the first time since 2008 an increase in property deals was registered in 2011. Then in the first half of 2012 real estate sales fell by 12% under the pressure of regained crisis sentiment. In the second half of 2012 the increased interest and purchases of holiday properties led to compensation in declines of the number of deals and the year ended with a small sales drop of just 2%.
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