House prices all across Bulgaria’s regional cities have slumped in the three months through March 2009 from the previous quarter, according to National Statistical Institute (NSI) figures.

Average prices fell -12.4% on the quarter but the annual decrease was a lower -8.4%, as the uptrend reversed only in October. Experts say residential prices will slip to their lowest in Q3 2009 of up to -30% on an annual basis.

From January to March, prices plummeted the sharpest in Veliko Tarnovo (-25.1%), Kyustendil (-21.5%), Blagoevgrad (-20.5%), Rousse (-18.8%) and Vidin (-17.8 %).
There were decreases of less than 5% in Shoumen, Dobrich, Razgrad, Montana and Gabrovo.

On an annual basis, a few regional cities managed to defy the downturn from January to March, with marginal gains registered in Bourgas, Plovdiv, Vratsa, Montana, Razgrad, Sliven and Smolyan. Prices in all of them peaked last summer and are now cooling off at a slower pace.