Bulgaria’s Dwelling Prices Slumped by 2.7 percent in 2012

The market price index of the dwellings in Bulgaria for the fourth quarter of 2012 compared to the third quarter of 2012 was 99.3%, i.e. the average decrease of the market prices of the dwellings was 0.7%.

The market price index of the dwellings for the fourth quarter of 2012 in comparison with the corresponding quarter of the previous year was 98.6%, i.e. the average decrease of the market prices of the dwellings was 1.4%.

In the fourth quarter of 2012, compared to the previous one, a price decrease was recorded in 23 regional centers. It was noted more considerably in Kardzhali and Razgrad - by 2.9%, and in Pazardzhik- by 2.8 %. Price increases were recorded in 4 regional cities - Vidin, Kyustendil, Burgas and Ruse) and in Sofia region.

In the fourth quarter of 2012, the average market price of the dwellings for the whole country was BGN 875.14 per sq. m. The highest ones were the average prices in the capital Sofia - BGN 1 440.50 per sq. m, followed by the Black Sea cities of Varna - BGN 1 424.93 per sq. m and Burgas - BGN 1 140.43 per sq. m.

The market price index of the dwellings for 2012, compared to 2011 was 97.3 %, i.e. the average decrease of the market price of the dwellings was 2.7%.

In 2012 compared to 2011, a price decrease was recorded in 22 regional centers. It was more considerably noted in Montana - by 12.1%, Sliven - by 8.2.0% and in Vratsa - by 7.3%. Price increase was recorded in 6 regional cities - Gabrovo, Pazardzhik, Shumen, Ruse, Blagoevgrad and Targovishte.

In 2012, the average market price of the dwellings for the whole country was BGN 881.38 per sq. m. The highest ones were the average prices in Sofia - BGN 1 452.64 per sq. m, followed by Varna - BGN 1 429.69 per sq. m.

The market price index of the dwellings measures the total relative price change of the prices of existing dwellings- flats (newly built flats, houses and luxury dwellings are excluded). The object of the statistical survey are the prices of flats really sold, by households, in the district centers.