Home Sweet Home: The Reality of Housing in Bulgaria Revealed
New data from the National Statistical Institute (NSI) sheds light on the housing landscape in Bulgaria, painting a picture of the majority of Bulgarians residing in older homes.
Ireland and Bulgaria are the countries, whose housing markets saw the sharpest fall in prices during the third quarter this year on an annual basis, a survey by the Global Property Guide shows.
The Irish housing market remains the world's weakest performer. House prices were down 15.61% year-on-year, the steepest decline since 2008. Quarter-on-quarter, Ireland's house prices slid 4.25%.
Bulgaria registered the world's second-biggest fall in residential property prices from July to September, down by 9.65% year-on-year.
It is one of several European housing markets, which experienced accelerated downturns during the year ending in the third quarter of 2011 - Netherlands (-5.20%), Portugal (-6.77%), Slovak Republic (-7.94%), Warsaw, Poland (-7.95%), Spain (-8.41%).
On a quarterly basis however Bulgaria recorded a slim 0.11% decrease in housing prices.
The world's second strongest quarter-on-quarter house price rise occurred in an unexpected city - Vienna, where house prices surged by 5.44% during the quarter (and +4.25% on the year), continuing 6 years of nearly unbroken price rises for Austria's capital.
The Baltics have also performed strongly.
India and Brazil' housing markets have continued their spectacular outperformance, with Delhi house prices up 22.68% during the year to Q3 2011, according to National Housing Bank (NHB) figures.
Brazil's Sao Paolo had the second highest house price rise in the world during the third quarter, with house prices up 5.88% during the quarter.
The country is experiencing an unprecedented boom, not least because it is the host country for the World Cup in 2014 and the Olympics in Rio de Janeiro in 2016.
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New data from the National Statistical Institute (NSI) sheds light on the housing landscape in Bulgaria, painting a picture of the majority of Bulgarians residing in older homes.
Bulgaria has witnessed a remarkable surge in home loans at the beginning of the year, with loans for households for the purchase of houses and apartments reaching a record high of BGN 20.52 billion by the end of February
The housing market in Bulgaria witnessed mixed trends in the fourth quarter of 2023, with overall prices experiencing a modest increase of 1.2%
Bulgaria witnessed a staggering surge in mortgage loans in 2023, totaling a monumental BGN 6.39 billion
Amidst the backdrop of Bulgaria's dynamic real estate landscape, all eyes are on the potential impact of the country's imminent entry into the Eurozone
This information was shared during the presentation of data on the current state of the market to journalists
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022