Apartment prices in major Bulgarian cities drop slightly in Q4 2011

2012-02-07



Apartment prices in Bulgarian large cities have remained almost unchanged in Q4 2011, marking a drop of only 1.5%, compared to data from Q3 2011, according to a National Statistics Institute.
During Q4 2011, the housing average asking price was €453 per m², with Sofia and Varna being the most expensive (€743/m²), which corresponds to a 0.22% drop in Sofia and 2.6% drop in Varna on a quarter-on-quarter basis.
On a year-on-year basis, apartment prices in Bulgaria’s larger cities have dropped on an average by 6.2% in Q4 2011. In Sofia the drop of flat prices year on year was 7.2%, while in Varna, it was 5%. Veliko Tarnovo with a 10.7% drop, Vidin (-11.8%), Gabrovo (-17.2 %), Pernik (-12.5%), Dobrich (-10.2%) and Shumen (-15%) were the cities that marked the steepest drops in prices against Q4 2010.