Housing Down By 28% by End-September

Housing Down By 28% by End-September
: luximoti.bg Property prices fall enough to bring buyers back at the market

The National Statistics records a trend towards real estate prices collapse decline. During the summer in Sofia, where then the market started signaling some revival, prices are down by 6% at the average

Elena Dimitrova | 23.10.2009 17:35

Housing prices in Bulgaria have fallen by 28% in the third quarter of this year as compared to the same period last year, data of the National Statistics Institute (NSI) shows. Despite the dramatic fall, owing mostly to peoples uncertainty about their incomes and the lack of advantageous credits for property purchases, the trend is now towards slowing of the drop. Compared to the second quarter, prices have fallen by 5% at the average, and the decline to the first quarter was of some 10%. In the summer period in Sofia, where then the market started signaling some revival, prices are down by 6% at the average, reaching an average market price of BGN 1,640 per square meter, NSIs data shows. The highest remain the prices in Varna BGN 1,770 per sq m averagely, and the third place is for Bourgas with BGN 1,380 per sq m. The average market price of housings in the country for the third quarter of 2009 equals BGN 1.201 a square meter. The sharpest sell prices falls are in smaller regional center towns as Montana by 16.3%, Vidin and Shoumen 10%.

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