The prices of Bulgarian properties have increased by 3% on average to BGN 1,418 in third-quarter 2008 compared to the same period of 2007, showed data of the National Statistical Institute.  Flats sell for more than BGN 1,000 per square metre in half of the country’s 28 regional cities.

Brokers say the market is settling and switching to stand-by mode as some sellers have withdrawn hoping for better times while others are chopping off prices with loan installments digging deeper in their pockets.

Property prices in Bulgaria’s second largest city of Plovdiv have seen the biggest rise growing 11% followed by Dobrich with some 9%. The increase hovers around 5% in the other regional cities.

Prices took the opposite direction in nine of the major areas with Shumen posting an 8% drop. Home prices in Varna, Bulgaria’s biggest Black Sea city, registered their first fall, be it a tiny BGN 8 per square metre.

Sofia retained the lead as Bulgaria’s most expensive city offering BGN 2,470 per square metre, a 6.8% rise. The runner-up was Varna with BGN 2,129 per square metre.

house for sale Malak manastir 80 m2 € 12000

house for sale Zlatari 160 m2 € 15500

house for sale Brusen 260 m2 € 15300

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