Housing prices in Bulgaria with a consecutive real quarterly growth
At the same time, the property prices in Sofia have registered the first real annual growth of +0.5%, and in Plovdiv the real annual increase is +0.24%.
The real change in average property prices for the country as a whole in Q3 is +0.34% compared to the previous quarter and -1.18% year-on-year (compared to the same quarter in 2012).
*Deduction of inflation provides a more accurate estimation of the real price changes, so when using the NSI data we always make the necessary calculations to obtain a more precise market picture.
*Deduction of inflation provides a more accurate estimation of the real price changes, so when using the NSI data we always make the necessary calculations to obtain a more precise market picture.
Nominally (without inflation deduction), property prices in Bulgaria remained almost unchanged compared to the previous quarter - a nominal decline of -0.15% on average for the country. On a yearly basis (compared to the third quarter of 2012) the prices in Bulgaria have decreased by -1.84%.
The average price of an apartment in the regional cities in Bulgaria in Q3 was 442.29 EUR/sq.m. (compared to 442.94 EUR/sq.m. in Q2 2013).
The prices at which apartments in the big cities were sold during the period June-September 2013, according to NSI data, are as follows:
• Sofia – 738 Euro/sq.m.
• Plovdiv – 476 Euro/sq.m.
• Varna – 706 Euro/sq.m.
• Bourgas – 569 Euro/sq.m.
• Stara Zagora – 444 Euro/sq.m.
• Rousse – 452 Euro/sq.m.
• Veliko ?arnovo – 365 Euro/sq.m.
The prices of apartments in the capital of Sofia in 3Q 2013 have increased nominally by +0.67% compared to the previous quarter, and on an annual base the drop is close to 0 and is -0.17%. After inflation deduction the prices of apartments in Sofia have increased by +1.17% compared to the previous quarter, and compared to the same period of last year the first growth of +0.5% was registered.
The accumulated nominal price drop of apartment prices in the regional cities in the last few years since the beginning of the crisis is -39.01%, while in Sofia the decrease is -41.5%. The accumulated real fall in prices (after inflation deduction) since the beginning of the crisis is -44.5% on average for the country and -46.77% in Sofia.
The detailed data for of the changes in apartment prices in the big cities around the country in 3Q 2013 is as follows:
Nominal and real change of prices compared to the previous quarter:
• Sofia – nominal growth (+0.67%) and real growth (+1.17%)
• Plovdiv – nominal growth (+0.92%) and real growth (+1.41%)
• Varna – nominal growth (-1.04%) and real growth (-0.55%)
• Bourgas – nominal growth (-0.45%) and real growth (+0.04%)
• Stara Zagora – nominal growth (-0.64%) and real growth (-0.16%)
• Rousse – nominal growth (+0.63%) and real growth (+1.12%)
• Veliko Tarnovo – nominal growth (+0.10%) and real growth (+0.59%)
Nominal and real change of prices compared to the same quarter of the previous year
• Sofia – nominal growth (-0.17%) and real growth (+0.5%)
• Plovdiv – nominal growth (-0.43%) and real growth (+0.24%)
• Varna – nominal growth (-3.12%) and real growth (-2.47%)
• Bourgas – nominal growth (-1.98%) and real growth (-1.32%)
• Stara Zagora – nominal growth (-3.42%) and real growth (-2.77%)
• Rousse – nominal growth (+0.81%) and real growth (+1.48%)
• Veliko Tarnovo – nominal growth (-2.25%) and real growth (-1.59%)
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