Sofia Real Estate: Rising Demand, Limited Supply, and Euro Impact in 2025
The real estate market in Sofia remains robust as the year draws to a close
Amidst the echoes of change, Vasil Terziev steps into the role of Sofia's mayor, succeeding Yordanka Fandakova. The inaugural session of the Sofia Municipal Council (SMC) for the term 2023-2027 marks the beginning of Terziev's tenure, bringing with it a set of challenges and opportunities that will shape the city's trajectory in the coming years.
The agenda for this pivotal meeting encompasses crucial elements, including welcoming remarks from regional dignitaries and an insightful overview of local election results by the Chairperson of the Municipal Election Commission, Polina Vitanova. The newly elected Mayor of Sofia, Vasil Terziev, will solemnly assume office before the Municipal Council. Leading the first meeting will be Greti Stefanova from the coalition "We Continue the Change - Democratic Bulgaria," recognized as the most senior municipal councilor.
As Fandakova bids adieu to the mayoralty, her legacy is notable, marked by transformative urban development initiatives. Among these achievements is the expansion of the metro system to an impressive 52 km, coupled with enhancements to public transportation through a fleet of new, air-conditioned buses. The rejuvenation of four pivotal city squares and the planting of 33,226 new trees contribute to Sofia's green and vibrant landscape. Additionally, Fandakova leaves behind a lasting impact with the establishment of three new parks, enriching the city's recreational spaces.
The departing mayor highlighted infrastructural milestones, including the construction of over 39 km of roads, featuring segments of the Southern arc, the northern high-speed tangent, and the western arc of the Sofia Ring Road. Notable additions encompass 144 new kindergartens, 24 schools, and the meticulous reconstruction of 94 gymnasiums, fortifying the city's educational backbone.
Yordanka Fandakova, who held the mayoral reins for 14 years, leaves behind a city marked by progress and, for some, unfulfilled promises. As she exits the stage, Fandakova's legacy becomes a canvas upon which Vasil Terziev will paint his vision for Sofia's future. The city anticipates how Terziev will navigate the complexities, build upon past successes, and address the aspirations of Sofia's diverse residents.
Chief Commissioner Anton Zlatanov, Director of the Border Police Directorate, praised the efforts that led to Bulgaria's advancement toward Schengen membership
GERB has invited three political formations—Democratic Bulgaria (DB), the Bulgarian Socialist Party (BSP), and There Is Such a People (TISP)—to engage in "expert conversations" aimed at forming a government
GERB leader Boyko Borissov has announced the party’s plan to hold official negotiations with “Democratic Bulgaria” (DB), the Bulgarian Socialist Party (BSP), and “There Is Such a People” (TISP) regarding the formation of a government
Bulgaria’s accession to the Schengen area by land will not result in the country becoming a migrant buffer
Following consultations with President Rumen Radev, the MECH (Morality, Unity, Justice) party addressed journalists
Consultations between the President and representatives of the parliamentary group "There is Such a People" (TISP) continued as part of the discussions surrounding the formation of a regular government
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