Real estate prices in Central and South East Europe mark their first growth since 2008

The prices of real estates in EU recorded their first growth of 0.6% on a quarterly basis, according to a report of the CB Richard Ellis (CBRE) Consulting Inc., quoted by investor.bg. Over the past seven quarters, or since the beginning of the crisis, real estate prices have been decreasing constantly. Their values for the first three months were 19.7 % lower compared to those from the end of 2007. With respect to this estimates, the property values in Central and Eastern Europe (CEE), including the Bulgarian market, are now at 82.6% from their level in the last quarter of 2007. This indicator shows that the market in our country and in the region is one of the relatively stable in Europe in view of the fact that in most member-countries the recovery rate is lower, indicated further CB Richard Ellis. According to the report data, the process of a decline in CEE has not ended yet. Whereas in the last three months of 2009, the price rates in the region were on average of 83.1% of their level at the end of 2007, in the first quarter of this year, they stood at 82.6%. The decline in January-March 2010 was 0.5% compared to the 1.1% for the same period last year.

Text source: klassa.bg
Photo: oxfordhomes.in

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