The housing market in Bulgaria has continued to be active despite six years of significant price increases. According to the National Statistical Institute (NSI), the national house price index increased by 7.51 percent (or 6.83 percent when adjusted for inflation) from Q1 of last year to Q1 of this year, which is the biggest increase in house prices in three years.
Property prices
Here are some property prices in some of the Bulgarian areas.
Black Sea coast
Prices for brand-new villa constructions along the Black Sea coast typically range from €100,000 to €150,000, with prices for the most opulent houses reaching €300,000. Additionally, more people are purchasing property in rural areas, either as an investment or to settle permanently in Bulgaria.
Most economic forecasters anticipate that Bulgaria will see an increase in tourists over the next years, thus the value of houses near the coast and in the vicinity of mountain resorts will undoubtedly continue to climb steadily. Anywhere that is close to the international airports in Burgas, Sofia, or Varna would undoubtedly see a sharp price increase, especially if low-cost airlines start operating scheduled flights to these locations.
Historical towns
Additionally, there are lesser-known regions of Bulgaria that can end up being financially advantageous in the long run, particularly those that are adjacent to historic cities or places with breathtaking natural beauty. While Melnik, Balchik, and Batak (located close to Plovdiv), Bulgaria’s second-largest cities, Vidin, and Ruse, offer historical importance, Plovdiv itself is the second-largest city in the country.
You should be able to find a large wooden or stone house with open fireplaces, spacious rooms, picturesque views, and plenty of land attached for under €25,000, though it will need work to bring it up to code. When compared to better-maintained rural properties that simply require minor repairs, a rural property in need of extensive restoration can frequently be purchased for less than €5,000. Bathrooms are typically quite basic in unmodernized rural homes, and most of them have an outdoor toilet.
Rural areas
You can purchase a generous home of reasonable quality in a nice rural or less-traveled coastal location for between €25,000 and €50,000, possibly with just minor improvements needed.
Main towns
You can purchase a house or villa close to a major town for as little as €50,000, usually with lake or mountain views, spacious rooms, and lots of land, or you can purchase a small to a medium-sized brand-new apartment in one of the coastal cities or the capital Sofia.
Coastal towns
You can be the proud owner of a sizable two-story house in a coastal town for €150,000, a family home in Sofia, or a luxurious apartment in a well-known tourist destination. Large, contemporary, refurbished residences, brand-new homes with sea views, opulent flats in Sofia, and even hotels, are available at the upper end of the market (above €250,000).
Most sought-after locations in Sofia
The capital of Bulgaria, Sofia, continues to rank among travelers’ top destinations. According to Colliers International, the average sales price for two-bedroom apartments in H1 2021 ranged from €156,000 to €194,000, and for three-bedroom apartments, it ranged from €226,000 to €270,000. The starting price for a property is €486,000.
Both local and foreign buyers are currently showing a lot of interest in Sofia’s southern neighborhoods. Despite having the highest average property costs in the nation at €2,000 per square meter, Lozenets and the city center continue to have great demand. With home prices ranging from €1,200 to €1,500 per square meter, preferred neighborhoods include Strelbishte and Gotse Delchev.
