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Bulgarian property market is starting to stabilize, according to real estates research. In third quarter of the year property sales have risen with 30 per cents for the sea properties and 40 per cents for the rural Bulgarian real estates.
The market close to bottoming out and that small signs of growth are starting to be seen. According to the Bulgarian National Statistics Office, Bulgarian properties prices have been falling since 2009 at a smaller rate each year. Now they reached the bottom of the property prices and this year started rising , because of the number of the sales and interests in sea properties and properties with good quality and bargain prices.
House prices fell 21.4% in 2009, fell by 10.1% in 2011 and 6.1% in 2012. In the second quarter of 2012 saw rise of 0.2% which added to a 0.4% rise in the first quarter shows a property market in Bulgaria starting to gradually recover.
At all, Bulgarian property prices have fallen by 38% since the start of the global economic crisis.
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