Bulgaria's Residential Property Prices Keep Downward Trend
The average market price of residential properties in Bulgaria's capital Sofia has seen a 6.8% drop year on year during the third quarter of 2011, according to Raiffeisen Real Estate.
As compared with the second quarter of 2011, the average market price of Sofia's residential properties has decreased by 3.8%.
In Bulgaria's second largest city of Plovdiv, the average market price of residential properties in the third quarter of 2011, compared to the same period of last year, is down 4.1%, while in the Black Sea capital Varna there is a 3.6% decrease.
As compared with the second quarter of 2011, Varna has registered a 1.4% decrease in its average residential property market price, while Plovdiv has seen a 0.1% increase.
Raiffeisen Real Estate has pointed out that the non-residential properties' price dynamics in Bulgaria's largest cities have increased over the last two quarters. The non-residential properties segment includes retail and office properties.
The average market price of non-residential properties in Sofia has dropped by 9.6% on a quarterly basis. In Varna, a 6.4% decrease has been registered, while in Plovdiv, the average price is up by 2.5%.
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