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Bulgarian property market prices in serious decline
Prices in the Bulgarian property market have fallen to less than 33 per cent of their market peak in 2008, the country's National Statistics Institute (NSI) has revealed. The figures show just how much the beleaguered real estate market in Bulgaria has crashed over the past few years. In addition, the organisation revealed that the total number of real estate transactions, building permits and new buildings had also fallen to well below their peak. According to local real estate agents, there are no signs of this downward trend abating, with prices expected to continue to fall throughout the first half of 2011. NSI said that the average price of real estate last year was 964 leva per square metre with the most expensive prices in the capital city Sofia and the cheapest in the town of Kyustendil. However, real estate agents Investor said that low prices has attracted buyers with interest increasing by 50 per cent in the first half of 2010 and in some areas prices are rising again. - PropertyShowrooms.com

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