Bulgaria and the Euro: What Happens to National Monetary Sovereignty?
One of the most debated topics around Bulgaria’s upcoming transition from the lev to the euro is whether the country is giving up its sovereignty
A recent analysis from the European Institute of Trade Unions, highlighted by the European Confederation of Trade Unions, reveals that low-wage earners in most EU countries spend at least a third of their monthly income on rent. This data comes just before Dan Jørgensen’s hearing in the European Parliament, where he will be considered for the role of the EU's first housing commissioner. Jørgensen, if appointed, will be tasked with implementing an "affordable housing plan," a priority set out by European Commission President Ursula von der Leyen.
According to the analysis, workers on the minimum wage in 14 EU countries typically spend 35% or more of their income on renting a property with up to two bedrooms. In some cases, housing costs are even higher. For instance, in the Netherlands, Ireland, and Luxembourg, low-wage workers spend roughly half of their income on rent, while in eight other member states, rent absorbs 40% or more of their paychecks.
In Bulgaria, minimum wage earners spend an average of 45% of their income on rent. This figure is based on national averages, and actual rent costs may be even higher in cities where job opportunities are concentrated. The situation reflects a broader trend across the EU, where rental costs have surged by as much as 200% over recent years, according to Eurostat data. In response to these pressures, many Europeans have resorted to cutting back on essential spending, including food, to afford their rent or mortgage payments.
The Bulgarian property market appears to be cooling off in the major urban centers
The question of how Bulgaria’s adoption of the euro will influence the real estate market has sparked considerable interest among property owners
Bulgarians are stepping up property purchases in Northern Greece
The upcoming adoption of the euro in Bulgaria starting January 1, 2026, is stirring debate across society. Beyond political disagreements
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
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