Transactions increase in bulgarian real estate market

Residential property prices in Bulgaria are continuing to fall although some data suggests that sales are rising as buyers seek bargain real estate deals.

Prices fell by 6.4% year on year in the second quarter of 2011, according to the latest figures from the National Statistics Institute (NSI).

In quarterly terms, housing prices fell by 1.6% and 23 regional cities registered quarterly drops in prices, with Veliko Turnovo recording the most significant decline of 5.5% followed by Gabrovo at 5.4% and Vidin and Plovdiv both at 4.7%.

In the major cities the picture was better with prices in Sofia falling by just 2.1% and prices in Varna edging up 0.9%. The highest rise in housing prices was 1.3% in Rousse and Blagoevgrad.

Source: Property Wire