Home prices in Bulgaria drop 6.1% y/y in Q3 2011.

By bne IntelliNews October 24, 2011
The average prices of homes fell by 6.1% y/y to BGN 901.3 (EUR 460.8) per square metre in Q3 2011, data by the statistical office showed. The decline narrowed from 6.4% y/y as compared to a quarter earlier. Data referred to existing apartments sold in district towns and excluded newly built and luxury apartments. The price level declined by 0.8% during the quarter as compared to 1.6% q/q in Q2 2011. Prices increased in quarterly terms in eight of the 28 regional centres in the country, up from five in the previous quarter. The prices in the Northern Black Sea city of Varna were the highest (BGN 1,493, down 1% q/q) in Q3, followed by those in the capital city of Sofia (BGN 1,456, down 0.6% q/q), the southern Black Sea city of Burgas (BGN 1,184, up 1.8% q/q) and the countrys second largest city of Plovdiv (BGN 976, up 1.9% q/q).
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