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Knight Frank: Housing Market in Bulgaria is improving

Housing market in Bulgaria is improving and prices slow their decline. This is the commentary of the London-based consultancy firm Knight Frank real estate on the market in the country.

The company said  that housing prices in Bulgaria have reached its peak in the third quarter of 2008, and currently are 32.2 percent lower than the peak.

"The latest quarterly results show improving picture is the Bulgarian housing market, with annual price inflation of -6.0% recorded in the third quarter, compared with -9.7% in the previous quarter," said Evert, Kate Allen.

The company cites data from NSI that, at the end of September housing in our country fell on average by 6% annually. The decrease for the quarter was 1.2 percent.

According to the company's global index for housing prices in the second quarter Bulgaria holds one of the leading places in the fall. Dwellings in the country have reduced their prices by 9.7 percent annually, according to information of Knight Frank. Decrease from the first quarter was 0.8, the index shows.

 Improvement in our market talk and recently published data of Raiffeisen Real Estate. Raiffeisen index also showed slower pace of decline in price levels.