Real Estate In Bulgaria Decreases In Price

Real estate in Bulgaria has decreased in price in the fourth quarter of 2008 compared to the third quarter, data by the National Statistics Institute published today shows.The index of market prices of real estate in Bulgaria for the fourth quarter of 2008 compared to the third quarter of 2008 is 95.9%.The index of market prices of real estate for 2008 compared to 2007 is 124.9%, i.e. real estate in Bulgaria has increased in price on average by one fourth in the past year.In the fourth quarter of 2008 compared to the third quarter a decrease is registered in the prices in 23 municipal cities, as the most significant is in Veliko Tarnovo - by 11.7%, Pleven - 11.6%, Targovishte - by 11.2%, Pernik - 10.3% and others.An increase of prices has been reported in the cities: Kyustendil - by 1.6%, Silistra - by 2,5%, Vratza - by 3.2% and Montana - by 3.7%.The average price of real estate in the capital is 2373.83 levs/square meter, followed by Varna - 2101.17 levs/square meter and Burgas - 1791.50 levs/square meter.In the period from October to December, real estate in Varna has increased on average by 1.3%, in Burgas it has increased in price by 2.1%, in Plovdiv it has dropped in price by 2.1%, in Sofia real estate is down by 0.7% compared to the third quarter of the year.