(Source: The Sofia Echo)

Real estate transactions in Bulgaria tumbled by 35 per cent year-on-year in the first half of 2009, data from the Registry Agency showed.

The downtrend swept across all major cities and seaside resorts, with Sofia, Varna and Samokov region, including upscale winter resort Borovets, collapsing by around 50 per cent.

Brokers blamed lagging investment activity and the global financial downturn.

Recently, Raiffeisen Real Estate said in a report that property deals had shed an average of 42 per cent nationwide and 58 per cent in the capital city.

The agency’s report also took off-plan transactions into account, which boomed only two years ago.

Read Dnevnik.bg’s full article “Property deals dip 35%, off-plan deals mask real slide” in The Sophia Echo (August 10, 2009).

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