The property rates in the big cities continue to fall

The rates of the real estates in Sofia, Plovdiv and Varna continue to fall in the first three months of 2011. In Sofia the living areas have discount of 9.4 % on one – year base and 5.2 % accordingly to the last three months. The highest rates of the apartments in Sofia were in the third quarter of 2008 and since then they are going constantly down. Only in the second quarter of 2010 there is growth in the property rates, but after that there is discount again.

In Plovdiv the average real estate rates have a discount of 8 % on one – year base and 6.7 % accordingly to the last quarter of 2010. The highest rates of the apartments in Plovdiv were in the third quarter of 2008 and since then they are going constantly down. In the last three months there is small charge of the property rates in Plovdiv.

In Varna the real estates have a 7 % discount for one year, but there is 1.7 % charge of the rates accordingly to the last three years of 2010. This is the first growth of the apartment rates in Varna since the zenith in the third quarter of 2008.

The slow recovering of the labor market and the growing inflation cause smaller buying possibilities for real estates. But the growing inflation can cause another phenomenon: the people can begin to invest in real estates as sure investments.

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