A significant fall of the prices of residential properties in Bulgaria has been registered in the first four months of the year. The data was released Wednesday by the real estate brokerage company "Address."
In the capital Sofia
the decline is from 16% to 38%, while Varna
registered a decline from 7% to 48%. The lowest registered price is in Sofia
`s "Lyulin" quarter
- EUR 454 per square meter for a "new construction" apartment. Buyers are mainly looking for homes with areas between 50 and 70 square meters, priced between EUR 35 000 and 55 000.
30% of those purchasing newly constructed homes also look to buy a garage. The lower prices led to the increased number of real estate transactions, according to "Address".