Property price have fallen by nearly 10 per cent in the second quarter
The index of market prices of the houses for the second quarter of 2009 toward the first quarter of 2009 is 90,3%. That means that the average reduction of the market prices is 9,7%. This represent a slow down in the pace of reduction towards the quarter period under review decline of 12,4% in the first quarter.
Compared to same quarter of last year the average reduction in the market housing prices in the second quarter was 21,9%. For the previous quarter annual drop in prices was 8.4%.
In the second quarter of 2009 compared with the previous was registered price reduction in all regional cities as follow: Ruse- 14.4%, Vraca- 14.3%, Plovdiv- 14.1%, Burgas- 12.3%, Pleven- 12.2%, Sofia- 11.9%
The average market prices of the housings for the country is 1074,98 BGN per sq.m, as the highest is in Varna- 1827 BGN per sq.m, following of Sofia- 1745 BGN per sq.m and Burgas- 1471, 67 BGN per sq.m. The lowest average price recorded in Kyustendil- 540,85 BGN per sq.m.
The index of prices for homes assess the overall relative change in prices of existing homes - apartments (excluded are new apartments, houses, luxury homes). Subject of statistical research are actual sold prices of properties in the district households cities.
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— Steve Darby, England