Bulgaria's Q1 Housing Prices Edge down 0.9% Q/Q

Bulgaria's Q1 Housing Prices Edge down 0.9% Q/Q

Housing prices in Bulgaria edged down by 0.9% quarter-on quarter in the first three months of 2013, with apartments being most expensive in the capital city of Sofia, the statistics office said.

The average price of apartments in Bulgaria went down to 866.84 levs ($577.8/443.2 euro) per square metre (sq m) in the year's first quarter from 875.14 levs per sq m in the previous three months, the NSI said in a statement.

In Sofia, the average price of apartments decreased by 1.3% quarter-on-quarter to 1,422.33 levs per sq m.

Bulgaria's port city of Varna was the second most expensive city with prices of 1,409.67 levs per sq m, down 1.1% from the fourth quarter of 2012. Burgas, a major port city on the Black Sea and a holiday destination, ranked third with prices of 1,129.67 levs per sq m in the three months through March, down by 0.9% on the quarter.

The most significant decrease in housing prices in the first quarter of 2013, by 2.8% to 618.34 levs per sq m, was registered in the town of Sliven, in southeastern Bulgaria.

The NSI data reflects the prices in concluded apartment sale deals reported by real estate brokers operating in the administrative centres of Bulgaria's 28 regions.

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