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Apartment prices in Bulgaria up by 3% in third quarter of 2008

Date: 24.10.2008

The average apartment prices in Bulgaria grew by 3% in the third quarter of 2008 compared to the second quarter of the year, according to data from the National Statistical Institute released Thursday, which excludes property in newly constructed buildings.

The greatest price increase was registered in the southern city of Plovdiv - 11%. The average price increase in the capital Sofia is 6,8%.

The prices also grew significantly in the Rhodoppe Mountains city of Smolyan (10,4%), in the northeast city of Dobrich (9%), in the Danube city of Silistra (6,6%), and in the Black Sea city of Burgas (3,4%).

The average apartments prices in Bulgaria's sea capital Varna actually declined by -0,4%. Other decreases were registered in the city of Ruse (-5,9%), in the southwest city of Blagoevgrad (-5,2%), and in the eastern city of Shumen (-7,7%).

Thus, the average price per square meter of apartment property in Bulgaria has reached BGN 1 418,24 (slightly over EUR 700).

The highest average prices per square meter are in Sofia - BGN 2 470 per square meter, Varna - BGN 2 129,67, Burgas - BGN 1 755 , Plovdiv - BGN 1655, Ruse - BGN 1 646, Veliko Turnovo - BGN 1331.

The cheapest apartments are in the cities of Kyustendil (BGN 751 per square meter), Silistra (BGN 763), and Kurdzhali (BGN 855).

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