Apartment Prices in Bulgaria Grow 6% in April-June 2008

Business | July 23, 2008, Wednesday // 00:00| Views: | Comments: 2
  • Send to Kindle
Bulgaria Apartment Prices in Bulgaria Grow 6% in April-June 2008: Apartment Prices in Bulgaria Grow 6% in April-June 2008 Residential property prices in Bulgaria have continued to grow. Photo by Nadya Kotseva (Sofia Photo Agency)

Bulgaria's National Statistical Institute announced Wednesday that the apartment prices in the country had grown 5,9% in the second quarter of 2008.

The average price of one square meter of residential property in Bulgaria was BGN 1299,95 in January-March 2008 but in April-June 2008 it was already BGN 1376,29.

The highest growth in apartment prices was recorded in the southwest city of Kyustendil - almost 15%. On the other pole, the prices in the northeast city of Turgovishte even declined by 2,9%.

The lowest prices are recorded in the northeast city of Silistra - BGN 716 per square meter, and in the Sofia District - BGN 714 per square meter.

The residential prices in Sofia grew 6,9% to reach an average of BGN 2312,50 per square meter, followed by Varna with a growth of 1,8% and BGN 2137,33 per square meter.

These are followed by Ruse (BGN 1749 per square meter), Burgas (BGN 1698 per square meter), and Stara Zagora (BGN 1500,17 per square meter).

Plovdiv ranks sixth with BGN 1491 per square meter but with a growth of 13,2% over the last quarter, which shows a further potential for growth.
Business » Be a reporter: Write and send your article
Expats.bg All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (2)
iamsoobored - 25 Jul 2008 // 06:47:17

Hey, an older apartment in a nice pre-war building in a central location is much preferable to a cheaply built new box outside of the city center. I would rather buy an old apartment and renovate the kitchen and the bathroom, refinish the wood floors, maybe even change the windows, a nice paint job. New is not always better.

Igor Purlantov - 24 Jul 2008 // 19:51:21

This price increase should not be surprising given all the new developments coming to market. It would be interesting to see the average price increase broken down between new and older properties.

Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria