For more than two decades, real estate in Bulgaria has been offered primarily in euros, a practice familiar to both buyers and sellers, BNT reports. Despite this, many property deals have continued to be completed in Bulgarian levs (BGN), mainly because bank loans in levs have offered more attractive interest rates.

With Bulgaria’s imminent entry into the eurozone, all property transactions are expected to be conducted solely in euros, marking a significant shift for the market.

Already in 2025, the real estate sector is witnessing noticeable changes: demand for properties has increased by nearly 30% since the start of the year, and prices rose by 18% in the first quarter compared to the same period last year.

A particular surge has been seen in demand for two-room apartments. Polina Stoykova, an experienced real estate analyst, attributes this to buyers eager to invest their savings amid the euro adoption process.

"Inquiries for two-room apartments have jumped by 30 to 50%. It appears buyers are eager to finalize deals quickly, while sellers seem to be holding back, possibly anticipating further price increases once Bulgaria joins the eurozone. Low interest rates are also encouraging demand, especially among first-time buyers," Stoykova explains.

The increase in demand has naturally pushed prices higher. Yet, experts anticipate that once Bulgaria officially adopts the euro, this upward trend will moderate.

"The eurozone entry has been a factor in the market for the past three years, not just recently. I expect that when the transition happens, prices will stabilize. They might continue to rise, but at a slower pace than what we see today," says Alexander Bochev, Chair of the National Association of Real Estate.

Bulgaria’s property market has previously adjusted to currency changes. Until 2004, real estate was traded in US dollars, after which euros became the standard. While many transactions are already negotiated and paid in euros, the option to use levs remains in some cases.

"As of next year, payments will most likely be made in the currency agreed upon during negotiations. At present, many deals are settled in euros, but this is still decided between the buyer and seller," Stoykova adds.

According to data from the Registry Agency, only a modest share of Bulgarians engage in property transactions annually.

"Between 200,000 and 250,000 property deals are registered each year, which amounts to roughly 3% of Bulgaria’s population of around 6.7 million. While mortgage lending is growing, it still represents a small portion of the population," notes Bochev.

He also expects that the number of property transactions will continue to increase throughout the rest of the year and likely beyond, especially following Bulgaria’s official euro adoption set for January 1, 2026.