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Bulgaria Sees 5.6% Drop in Dwelling Prices

The market price index of Bulgaria's dwellings for the first quarter of 2011year on year was 94.4%, i.e. the average decrease of the market prices of the dwellings was 5.6%, according to the country's National Statistical Institute.

The market price index of the Bulgarian dwellings for the first quarter of 2011 compared to the fourth quarter of 2010 was 97.7%, i.e. the average decrease of the market prices of the dwellings was 2.3%.

In the first quarter of 2011 compared to the previous one, a price decrease has been recorded in 23 district centres. It was more considerably in the North eastern town of Shumen - by 7.9%, the South western town of Blagoevgrad - by 6.2% and the North western town of Vratsa - by 5.0%. In

the other district centres, a price increase has been recorded.

In the first quarter of 2011 the average market price of the dwellings in Bulgaria was BGN 923.70 per sq. m. The average prices in the capital Sofia were the highest – BGN 1 496.84 per sq. m, followed by the Black Sea cities of Varna – BGN 1 494.50 per sq. m and Burgas – BGN 1166.00 per sq. m.