Bulgarian residential real estate market lost a third of its real value since 2008

Residential real estate prices in Bulgaria dropped by 6.1% during the third quarter of 2011 compared to the same period in 2010. In the same period the price per square meter of residential real estate averaged at 901 BGN. It was stated in an analysis of a Bulgarian real estate agency that residential real estate market lost a third of its real value since 2008. Mostly the demand for buying a home lies between 25.000 and 50.000 EUR, compared to average of 78.302 EUR in 2008. Although this is bad for construction sector, the market seems to be balancing out since the number of residential real estate deals rose by 38.5% in the first half of 2011 compared to the same period in 2010.

Source: Sofiaecho

Tags: