Bulgaria ranks 9th in global house price growth in Q1-Knight Frank
03 June 2009
Bulgaria ranked ninth in terms of global real estate price growth in the first quarter, down from second place as compared to the respective period last year, said UK-based real estate consultancy Knight Frank in its report.
In the first quarter, Bulgarian real estate prices rose by 3.3% versus an annual rise of 30% in the respective period last year. On a quarterly basis, the country’s real estate price fell by 1.2% in the first quarter.
Analysts see ‘the worldwide economic deterioration and the mounting unemployment pinching the global real estate market,’ while they expect the market to rebound in 2010.
According to the report, Israel ranked first with a 10.9% annual growth, followed by the Czech Republic with an increase of 9.9% in the period. However, Dubai recorded the largest slump in the first quarter, falling by 40%.
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