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Residential prices in Bulgaria average BGN 806/m2 in Q1

Date: 27.04.2006

Average price levels of residential properties on the middle market in Bulgaria stood at BGN 806/m2 at the end of the first quarter of 2006, data of the National Statistical Institute shows.

This marks an increase of over BGN 30 per square meter as compared to the last quarter of 2005, when prices reached BGN 769.7/m2.

Prices levels, achieved in the residential market of Sofia, remained the highest in the country. The capital reached the record-high BGN 1 313.7/m2 in the first quarter of 2006, up from 1 285.2/m2 in the previous quarter, data shows.

The Black Sea towns of Varna and Burgas confirm the trends so far as they see the most brisk demand and prices exceeding BGN 1000 per square meter.

Varna follows closely the levels of residential property prices in Sofia with an average of 1 237.8/m2. Third comes Burgas, where prices stood at 1 198.3/m2.

The second-biggest town of Plovdiv ranks fourth with 903.8/m2.

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