Bulgaria Housing Property Prices Slump by 18% Q1 Y/Y

The average market price of residential properties in Sofia is BGN 1558 per square meter. File Photo

Housing prices in Bulgaria during the first quarter of 2009 are down nearly 18% compared to the same period in 2009.

The data was published by the National Statistics Institute (NSI) Friday.

Compared to the last quarter of 2009, prices are down over 2% while price reductions have been registered in 19 regional centers whit the most significant slump listed in Razgrad – 9.5%, Yambol and Burgas – 8.4%. In Sofia the reduction is 1.7%.

The average market price of residential properties in Bulgaria is BGN 979 per square meter – the prices are the highest in the Black Sea capital Varna – BGN 1634 per square meter, followed by Sofia with BGN 1558 and Burgas with BGN 1247.

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