Bulgaria price falls

The average price of a home in Bulgaria's regional cities depreciated by 12.4 per cent in Q1 2009 from the previous quarter, according to National Statistical Institute (NSI) figures...

The annual Bulgaria property price fall was 8.4 per cent, as values only started to officially fall last October, but market experts project that residential prices could tumble by as much as 30 per cent year-on-year by Q3 2009.

The greatest price fall was recorded in Veliko Tarnovo, (-25.1 per cent), followed by Kyustendil (-21.5 per cent), Blagoevgrad (-20.5 per cent), Rousse (-18.8 per cent) and Vidin (-17.8 per cent).

Less drastic price falls of under five per cent were recorded in Montana, Dobrich, Shoumen, Razgrad, and Gabrovo.

Elsewhere, annual property prices appreciated in Plovdiv, Vratsa, Montana, Razgrad, Sliven, Bourgas, and Smolyan, although pace of growth has slowed since the market peaked last summer.

Source: www.homesoverseas.co.uk/news