Sofia’s Property Market: New Construction Dominates Buyer Preferences
In Sofia, the majority of home buyers are leaning toward new construction properties
A total of seven illegal buildings in Bulgaria's ancient coastal town of Nessebar have already been torn down, Regional Minister, Rosen Plevneliev reports.
Plevneliev spoke Saturday in an interview for Darik radio, saying another 30 acts to dismantle illegal establishments in the town are pending.
The Minister pointed out the State's obligation is to create the frame of the law while the Mayors are those who must apply it locally.
Regarding Nessebar, the rules there are flawed because someone allowed construction just meters away from historical sites, Plevneliev said, adding it was not true all residents want their town taken out of UNSECO's world cultural heritage list with the Mayor already revising his position on the matter.
The Minister informed a total of 1 600 illegal buildings will be demolished in the very near future with 300 orders already issued. He advised owners to voluntarily destruct these properties because it would be cheaper for them and they can reuse the materials.
Plevneliev accused those who deliberately live in illegal housing in order to evade taxes of making petty crime thrive in Bulgaria.
The Minister declared that all illegal construction would eventually come down and penalties for those who allowed it will go up to become very steep, giving as example dismissals and fines of BGN 30 000 for chief architects.
Sofia continues to dominate Bulgaria's housing market, securing the top spot for the third consecutive year in the construction of large residential properties.
In Sofia, the majority of home buyers are leaning toward new construction properties
The real estate market in Bulgaria maintained stability and activity during the first quarter of 2025, with strong demand despite a moderate drop in transactions compared to late 2024
Sofia Municipality is set to implement a revised framework for managing its municipal housing stock by introducing two distinct rental categories
Many home buyers in Bulgaria are increasingly favoring newly built properties
The National Real Estate Association has raised concerns regarding the proposed Bill on Real Estate Brokers
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