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Housing prices in 2009
submited on 26.01.2010 in category Monetary policy | Macroeconomic developments
The decelerating negative growth rates probably signal that housing prices will hit the bottom in the coming months. 12 districts registered appreciation of housing in Q4 2009, although the number of districts with falling prices (17) still prevails. A closer look at the data, however, reveals that most of the cities with positive growth have relatively shallow and low-liquidity housing markets.
Each of the six biggest cities reported devaluation of housing property, ranging from 6% q-o-q in Ruse and Plovdiv to 1% q-o-q in Burgas. Housing property in Sofia depreciated at 3% compared to the previous (third) quarter of 2009. Still, liquidity remains low in most cities and the number of market transactions has not increased substantially, although prices have shown some signs of stabilization.
submited on 26.01.2010 in category Monetary policy | Macroeconomic developments
The decelerating negative growth rates probably signal that housing prices will hit the bottom in the coming months. 12 districts registered appreciation of housing in Q4 2009, although the number of districts with falling prices (17) still prevails. A closer look at the data, however, reveals that most of the cities with positive growth have relatively shallow and low-liquidity housing markets.
Each of the six biggest cities reported devaluation of housing property, ranging from 6% q-o-q in Ruse and Plovdiv to 1% q-o-q in Burgas. Housing property in Sofia depreciated at 3% compared to the previous (third) quarter of 2009. Still, liquidity remains low in most cities and the number of market transactions has not increased substantially, although prices have shown some signs of stabilization.
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