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House prices in Bulgaria have increased by 1.2% in the fourth quarter of 2023 compared to the previous quarter, according to data from the National Statistical Institute (NSI).
Housing prices in Sofia and Plovdiv have decreased in the fourth quarter of 2023 compared to the previous quarter. The decrease in Plovdiv was 0.5%, and in the capital it was rather symbolic - 0.1%, primarily driven by a decrease in prices for secondary housing by 0.2%, while no changes were recorded for new construction.
The highest quarterly price growth was observed in Stara Zagora (+8.2%), followed by Burgas (+6.3%) and Varna (+1.7%). In Ruse, prices have increased by 0.2%.
In a year-over-year comparison, all major cities in Bulgaria (with a population of over 120,000 people) saw an increase in housing prices in the fourth quarter of 2023 compared to the same period the previous year.
The most significant annual increase is observed in Ruse (+18.1%), Burgas (+17.3%), and Varna (+15.7%). In the other three cities, the increases were modest – Sofia saw a rise of 9.7%, Plovdiv - 7.3%, and Stara Zagora - 5.3%.
Overall, across the country, there was a 10.1% increase in housing prices on annual basis. The prices for new homes saw a more pronounced increase of 10.5%, while prices for secondary homes experienced a 9.8% increase.
Source: Investor.bg
Photo by Deniz Fuchidzhiev on Unsplash
