Bulgarian Residential Property Prices Slump Further

The index of residential property prices calculated each quarter by Bulgaria's National Statistical Institute has gone by 0.5% in the third quarter on a quarterly basis.

The decline in Bulgaria's residential property prices is greater when estimated year-on-year - the index is down by 2.2% compared with the third quarter of 2011.

All of Bulgaria's 27 district capital cities saw their residential property prices go down in the third quarter of 2012.

The largest decreases in the price of residential real estate on quarterly basis was registered in the southwestern city of Kyustendil - 3.5%, in the northwestern city of Montana - 3.4%, and in the southern city of Pazardzhik - 2.7%.

The average price per square meter of residential property in Bulgaria in July-Septemer 2012 was BGN 881.21, as estimated by the NSI.

The highest average prices per square meter of residential property in Bulgaria were found in the capital Sofia - BGN 1 447.33 per square meter, in Varna - BGN 1 425.83, and in Burgas - BGN 1 135.83.