Bulgaria's housing prices drop 2.3% Q/Q in January-March 2011
Bulgaria's residential property prices fell by 2.3 per cent in the first quarter of 2011 compared with the final three months of the previous year, National Statistics Institute (NSI) data shows.
On an annual basis, housing prices decreased by 5.6 per cent in the period.
As many as 23 regional cities registered quarterly declines in prices, with the most significant drop recorded by Shoumen (7.9 per cent), followed by Blagoevgrad with 6.2 per cent and Vratsa with five per cent.
The average price of flats in the country stood at 923.7 leva a sq m in the first quarter. Housing prices were highest in the capital, Sofia, at 1497 leva a sq m, followed by Varna with 1494 leva and Bourgas with 1166 leva.
In 2010, residential property prices fell by 10.1 per cent on average against the previous year.
Text: sofiaecho.com
Photo: Julia Lazarova
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