The market price index of Bulgaria’s property market for the first quarter of 2011year on year was 94.4%, i.e. the average decrease of the real estate market prices of the houses was 5.6%, according to the country’s National Statistical Institute.The market price index of the Bulgarian properties for the first quarter of 2011 compared to the fourth quarter of 2010 was 97.7%, i.e. the average decrease of the market prices of the properties was 2.3%.

In the first quarter of 2011 compared to the previous one, a price decrease has been recorded in 23 regions in Bulgaria. It was more considerably in the Northeastern town of Shumen – by 7.9%, the Southwestern town of Blagoevgrad – by 6.2% and the Northwestern town of Vratsa – by 5.0%. In the other regions, a price increase has been recorded.

In the first quarter of 2011 the average market price of the property in Bulgaria was BGN 923.70 per sq. m. The average prices in the capital Sofia were the highest – BGN 1 496.84 per sq. m, followed by the Black Sea cities of Varna – BGN 1 494.50 per sq. m and Burgas – BGN 1166.00 per sq. m.