Bulgaria ranks fifth in the world in terms of the drop in residential estate prices

In the fourth quarter of 2011, Bulgaria dropped to the fifth position in the ranking classifying countries in terms of the drop in residential estate prices on an annual basis, showed data of the Global Property Guide. The reason for this is the slowdown in the price decline in the country. At the end of 2011, a decrease of almost 9% in real estate prices was recorded on an annual basis. In the third quarter of 2011, the decrease exceeded 9% and an even more substantial decline of over 10% was reported for the first half of 2011. Because of it, our country ranked second in terms of the drop in housing prices, after Ireland. In the fourth quarter of 2011, residential real estate prices were down by 2.46%, compared to the previous quarter. Bulgaria is, again, among the top 10 countries worldwide in terms of this key figure.

Ireland tops the ranking of the Global Property Guide with an over 18% price decline of residential estate at the end of 2011. Poland, with its capital Warsaw ranks next, with a price decline of about 10.55%. The Greek capital Athens is third. Prices there decreased by 10.43%. Spain is among the top 5 countries, just before Bulgaria, with a price drop of 9.27%. Taiwan (-8.74%), Portugal (-7.78%) and Australia, which participated in the survey with eight cities, (-7.7%) come next. Slovakia and the Netherlands fill the first ten positions with price drops of 6.88% and 5.77%, respectively.

India, and particularly Delhi, is at the other extreme. At the end of last year, an increase in residential estate prices of over 25% was reported there on an annual basis. The Brazilian city Sao Paulo occupies the second place with a price increase of nearly 20%. The capital of Estonia Tallinn ranks third - residential estate prices there increased by 8.36%.

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