The average market price of housing property in Bulgaria grew up by7.5 per cent in the third quarter of 2007, compared to the previous three-month period of the year, data of the National Statistical Institute (NSI) showed on October 23, as quoted by investor.bg.

The statistics covered price data coming from all of Bulgaria’s regional centres that are also the largest cities in this country. It showed that in the July-September 2007 period the average market price of housing was 1118.82 leva for a sq m, compared to 1041.11 leva for a sq m for April-June 2007. Compared to the third quarter of 2006, when the average price was 856.70 leva for a sq m, the increase was by 30.6 per cent, NSI said.

The biggest price rise in Q3 this year, of 20 per cent to 886.83 leva, was registered in the north-western Bulgarian city of Vidin. It was followed by the capital Sofia, which saw an average housing price growth of 15.6 per cent to 1904.83 leva for a sq m.

Only two cities had a drop in the average cost of their residential property. They were Smolyan, in the Rhodopes, where one sq m was 7.7 per cent cheaper at 802.59 leva, and Montana in north-western Bulgaria, where prices dropped by 1.1 per cent to an average of 777.33 leva for a sq m.

Sofia offered the most expensive apartments in Bulgaria, costing an average of 1904.83 leva for a sq m, followed by the Black Sea cities of Varna, with 1753.33 leva for a sq m, and Bourgas, with 1483 leva for a sq m, for the third quarter of 2007.

Source: Sofia Echo