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Housing market in Bulgaria and the EU influence
submited on 07.05.2007 in category Political stability | Fiscal affairs | Monetary policy | Regulated markets | Privatisation | Macroeconomic developments
submited on 07.05.2007 in category Political stability | Fiscal affairs | Monetary policy | Regulated markets | Privatisation | Macroeconomic developments
The EU accession has already influenced the Bulgarian housing market. Total household credit and housing credit in particular continued to increase in March with the housing credit interest rates remaining almost unchanged. In line with our forecast the average prices per sq. m. in regional cities rose by 9,3% as price changes in Sofia and Varna were significant, while prices in Stara Zagora and Burgas remained similar compared to Q4 2006. On the other hand Russe has already taken 4th place among the most attractive cities. As a whole, no negative growth has been recorded among the regional cities, and in 10 cities growth rate was even double-digit. The business conjuncture in the country remained favorable in April 2007 and expectations about the business situation in construction were also optimistic.
Top and bottom cities according to average price of residential housing in Q1
2007
Top 5 cities according to average housing price BGN per sq. m EUR per sq. m
Varna 1 646,00 841,6
Sofia 1 588,00 811,9
Burgas 1 312,30 671,0
Russe 1 066,00 545,0
Stara Zagora 1 059,70 541,8
Bottom 5 cities according to average housing price
Yambol 645,2 329,9
Lovech 613,0 313,4
Vidin 600,7 307,1
Silistra 568,3 290,6
Kyustendil 557,7 285,1
Source: Industry Watch based on data from the NSI
Top and bottom cities according to average price of residential housing in Q1
2007
Top 5 cities according to average housing price BGN per sq. m EUR per sq. m
Varna 1 646,00 841,6
Sofia 1 588,00 811,9
Burgas 1 312,30 671,0
Russe 1 066,00 545,0
Stara Zagora 1 059,70 541,8
Bottom 5 cities according to average housing price
Yambol 645,2 329,9
Lovech 613,0 313,4
Vidin 600,7 307,1
Silistra 568,3 290,6
Kyustendil 557,7 285,1
Source: Industry Watch based on data from the NSI
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