Prices for housing in Bulgaria dropped by 10.1% in 2010, in comparison to the previous year, according to data from the Bulgarian National Statistics Institute (NSI).

The data revealed that the average price per square meter was BGN 964 in 2010. The most expensive were the housings in Sofia – BGN 1,569 per square meter, while the cheapest ones were in the city of Kyustendil – BGN 567 per square meter.

The biggest drop of prices for residential properties was registered in the regions of Varna and Burgas – about 20%. In Sofia, the average drop of prices in 2010 was of 9.7%.

An increase in the prices for residential properties was registered in four Bulgarian districts. The biggest growth by 15.5% was registered in housings in the Sofia district, followed by Silistra with 5.2%.

A minimal growth was also registered in 2010 in housings in Kardzhali (2.6%) and Kyustendil (0.1%).

The drop in the prices was 1.5% in the last quarter of 2010, compared to the third one. In 2009, the drop in the prices was 5.6% in the last quarter of the year, according to NSI.

A decrease in the residential properties prices was registered in 19 regional cities in the last quarter of 2010, the biggest ones being in the city of Vidin (5.5%), Gabrovo (5.3%) and Pernik (5%).

The other nine districts saw a minimal increase of prices (less than 1%) in the same period of the year.

The average market price of housing in Bulgaria in the fourth quarter of 2010 was BGN 945 per square meter.

The highest average market prices were registered in Sofia – BGN 1,566 per square meter, followed by Varna – BGN 1,531 per square meter, and Burgas – BGN 1,142 per square meter.