Bulgaria's Eurozone Entry by 2026: Possible, But Tense, Expert Warns
Financier Plamen Danailov, a municipal councilor from the "There Is Such a People" party, recently discussed Bulgaria's potential adoption of the euro
In the third quarter of 2024, housing prices in Bulgaria saw a notable rise of 16.5% compared to the same period last year, according to the National Statistical Institute. When compared to the previous quarter, the increase was slightly below 4%, with the largest price jumps occurring in Sofia and Varna, where prices surged by over 5%.
The rise in housing prices was observed across both existing and newly built properties. Existing homes experienced a price increase of 3%, while new homes saw a sharper rise of 5.6%. Among the cities with the most significant price changes were Stara Zagora and Burgas, where prices increased by just over 4%.
However, Ruse was an exception, seeing a nearly 6% decline in housing prices. The Southeastern region recorded the highest price growth for new properties, with an increase approaching 7%.
Source: National Statistical Institute (NSI)
Interest in newly built properties is on the rise, driven by factors such as increasing prosperity
the last quarter of 2024, the proportion of properties purchased with mortgage loans in Bulgaria grew to 27%, or roughly every third property
The real estate market in Bulgaria experienced notable changes in 2024, with significant price increases and a rise in transaction volumes
Financial expert Kamen Kolchev has advised against investing in real estate, warning that property prices in Bulgaria could drop by up to 20% upon the country’s entry into the eurozone
Foreigners who invested in property in Bulgaria are now facing legal battles after discovering that their homes were sold without their knowledge
In recent months, sales of residential properties in Bulgaria’s major cities have risen sharply
Bulgaria's Perperikon: A European Counterpart to Peru's Machu Picchu
Bulgarians Among EU's Least Frequent Vacationers, Struggling with Affordability