Bulgaria’s major cities: where to buy property most favourably
In 2023, Bulgaria’s major cities saw high rates of property price growth. However, the market slowed in 2024. The cost of housing in the country rose by 21% in 2023. In the third quarter of 2024, the growth rate dropped to 14%. Despite this, analysts believe the momentum will remain strong.
Looking at the annual growth rate for 2024, the best performers were the smaller cities:
– Vidin;
– Lovech;
– Kyustendil;
– Sliven.
House price growth exceeded 20% in these cities. Polina Stoykova of Bulgarian Properties notes that this situation is due to the active development of the regions. After a long delay, they are gradually catching up with the country’s major cities.
Sofia, Stara Zagora, and Plovdiv showed annual price growth between 7 and 7.7%, which is lower than in the rest of the country. At the same time, the demand for housing remains high.
Property prices in different Bulgaria’s major cities
Bulgaria’s capital city remains the country’s most expensive place to live. Prices are also high in popular resorts and tourist areas. The most costly are:
– Sofia, where a square metre of flat costs €1837;
– Varna, where the average price is €1442 per square metre;
– Bourgas market offers a square metre of housing for €1300;
– in Plovdiv, a square metre is sold for €1259.
The cheapest housing is in Silistra, where a square metre costs €694. Analysts note that during 2024, the market maintained a consistently high demand. This trend is likely to continue in 2025. Rising household incomes are boosting property investment. In addition, falling interest rates are making mortgages more affordable.
Overview of two-bedroom flat values
In 2024, value growth was most pronounced in the one-bedroom segment. During this period, the price of such apartments in Sofia increased by 9%. In the capital, one square metre of a two-room apartment costs €1500. The price has been rising steadily since August 2024.
Plovdiv saw prices rise by 11%. This is mainly due to the active construction of new properties. There is also a high demand for properties. Moreover, buyers are buying apartments exclusively for their residences. They are willing to pay more for a property that meets their comfort requirements.
In Burgas, the cost of apartments rose by 17%, the highest in the country. One square metre of such an apartment costs €900.