House prices in Bulgaria fell 2.2 per cent year-on-year in Q2 2013 – Eurostat

Written by on October 10, 2013 in Business - No comments

House prices in Bulgaria fell by 2.2 per cent in the second quarter of 2013 compared with the same quarter of 2012, according to statistics released on October 10 by European Union statistics agency Eurostat.

In Q2 2013, house prices were 0.5 per cent higher than the previous quarter, but this was after a succession of decreases.

In Q1 2013, house prices in Bulgaria were 0.9 per cent lower than in the last quarter of 2012, and in Q4 2012, they were 1.7 per cent lower than in Q3 2012, which in turn saw a 0.1 per cent drop from the second quarter of last year.

Overall, according to Eurostat, house prices, as measured by the House Price Index1 (HPI), fell by 2.2 per cent in the euro area and by 1.3 per cent in the EU in the second quarter of 2013 compared with the same quarter of the previous year, according to Eurostat.

Compared with the first quarter of 2013, house prices rose by 0.3 per cent in the euro area and by 0.4 per cent in the EUin the second quarter of 2013.

Among the EU member states for which data are available, the highest annual increases in house prices in the second quarter of 2013 were recorded in Latvia (+8.8 per cent), Estonia (+8.1 per cent) and Luxembourg (+5.1 per cent), and the largest falls in Croatia (-19.7 per cent), Spain (-10.6 per cent) and the Netherlands (-7.5 per cent).

The highest quarterly increases in the second quarter of 2013 were recorded in Latvia (+5.1 per cent), Estonia (+3.7 per cent) and Denmark (+3.1 per cent), and the largest falls in Croatia (-6.5 per cent), the Netherlands (-2.0 per cent) and Hungary (-0.9 per cent).

(Photo: maistora/flickr.com)

Comments

comments

About the Author

The Sofia Globe - Bulgaria’s fully independent English-language news and features website, run by an all-expatriate team. Sign up to subscribe to sofiaglobe.com's daily bulletin by using the form on the homepage of our website. Please click to support our advertisers!