Bulgarian Q1 real estate prices down 8.4%
24 April 2009
Bulgarian residential real estate prices have dropped by 8.4% in the first quarter as compared to the respective period last year and by 12.4% as compared to the previous quarter, mainly due to the effects of the global financial crisis, said the country's National Statistics Institute (NSI) in a survey.
Analysts say that the restricted financing and withdrawing investors have brought Bulgaria's real estate market to a stalemate. The average residential real estate prices stand at BGN 1190,72 per square meter, while the highest prices are seen in Varna city with BGN 1982,17 per square meter. However, the lowest prices are seen in Kyustendil with BGN 599,08 per square meter.
Sofia’s residential real estate prices stand at an average price of BGN 1980 per square meter.
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