Information on the Bulgarian real estate market – autumn 2024
In the autumn of 2024, the Bulgarian real estate market shows stable positive dynamics, despite the traditional seasonal slowdown. Experts from the National Real Estate Association (NREA) and representatives of the real estate community have noted an increase in prices and sales volumes across the country, as demand continues to outstrip supply.
Affordable mortgages at low interest rates contribute to the activity of buyers who confidently plan long-term payments. Most of the deals are concentrated in the middle price segment: about 85% of the offers on the market are two-bedroom apartments from 55 to 65 sq.m and three-bedroom apartments from 90 to 100 sq.m.
There is a growing interest in housing in large cities, especially in the coastal areas of Varna and Burgas. Megacities attract the attention of most buyers, who have become less interested in real estate in rural areas. An important factor after the pandemic was also the increased demand for resort real estate, which is mainly supported by Bulgarian buyers, as some foreign investors have left the market.
During 2024, the market showed steady growth: sales increased by 11% year-on-year in the first quarter and by 0.02% in the second quarter. Experts attribute a slight decrease of 0.25% in the third quarter to seasonal fluctuations in demand.
Among the long-term forecasts, analysts highlight the possible entry of Bulgaria into the eurozone, which, in their opinion, can accelerate the growth of real estate prices by up to 10% in 2025. In case of a delay, this growth may remain insignificant, and the market may remain stable.
