Real estate market in Bulgaria freezes at 2023 levels

The real estate market in Bulgaria "froze" at last year's levels. According to the data of the National Association "Real Estate", quoted by BTA, an exception are the big cities, where there is an increase in the number of transactions. By the end of 2024, sales are expected to be between 215,000 and 216,000, as in 2023.
Rental rates for commercial spaces in Sofia reach up to 56 euros/sq.m a month, house prices reach up to 500,000 euros 

In terms of house prices in 2025, the association forecasts that the current growth trend will continue, with an increase of 10 per cent or just over 10 per cent year-on-year. According to the Real Estate National Association, the stagnant market is due to the uncertainty surrounding the country's accession to the eurozone. It is expected that there will be price increases after Bulgaria's entry into the eurozone, but if it is delayed it is more likely that the market will remain at the same levels. 

The trend towards buying larger properties is continuing, especially in Sofia, in areas suitable for families with children. Around higher education institutions and business parks, young people working and studying in these areas are looking for smaller homes. Investors who want to buy properties to rent them out also prefer smaller properties in these neighbourhoods.

Homebuyers in the country are creditworthy, around 35-40 years old, young enough to be able to get a loan for a longer period than 30 years. They have secure incomes and can service their loans. Some of them also have already accumulated savings which they can afford to buy the property they want with their personal funds.