Bulgaria’s Dwelling Prices Slumped by 6% in 2011

The average market price of Bulgaria's dwellings decreased by 6.1% in 2011 compared with 2010, according to the country's National Statistical Institute

The average market price of Bulgaria's dwellings decreased by 6.1% in 2011 compared with 2010, according to the country's National Statistical Institute

The market price index of Bulgaria's dwellings for the fourth quarter of 2011 decreased by 6.2% year on year.

The average decrease of the market prices of Bulgaria's dwellings was 1.5% compared with the third quarter of 2011.

In the fourth quarter of 2011 compared to the previous one, a price decrease was observed in 20 Bulgarian district centres, most considerably in Montana - by 8.3%, Pernik - by 6.9% and Yambol - by 4.9%.

In the fourth quarter of 2011 the average market price of the dwellings for the whole country was BGN 887.57/ sq. m. The highest average prices were recorded in the Black Sea city of  Varna – BGN 1 454.67 /sq. m, followed by Sofia (capital) – BGN 1 453.30/sq. m and Burgas BGN - 1 166.29/sq. m.