The Real Estate Market In Bulgaria After the Euro: More Sellers, More Cautious Buyers, and Signs of Slowing Price Growth

The first months of 2026, following Bulgaria’s accession to the eurozone, outline a new dynamic in the residential property market. After the record activity in 2025, when many buyers accelerated their decisions in anticipation of the introduction of the euro, the market is gradually beginning to return to a more moderate and sustainable pace.

Although official statistics for the end of 2025 and the beginning of 2026 have not yet been released, experts in the sector report that certain trends are already visible – a sharp increase in supply compared to last year, some cooling among buyers, and a slowdown in the pace of housing price growth.

More sellers after the eurozone entry

One of the most visible changes at the beginning of 2026 is the increase in the number of properties offered for sale. The period of 2024 and 2025 was dominated by buyers, when it was difficult to find completed residential properties for sale in the major cities. At that time, many owners postponed selling while monitoring the market and waiting for Bulgaria’s accession to the eurozone with the expectation of achieving higher prices.

Since the beginning of the year, a noticeable activation among sellers has been observed, according to Bulgarian Properties, which reports a significant increase in new listings.
Different groups of owners are currently active on the market. Some of the properties are offered by foreign owners who had also been waiting for Bulgaria to enter the eurozone.




Interest is also being observed from heirs of properties who have reached agreements among themselves to sell and are bringing apartments or houses to the market, including properties outside the major cities that they do not plan to use.

Buyers remain active but more cautious

At the same time, some cooling in buyer activity can be observed. The number of property purchase inquiries through the Bulgarian Properties website has decreased by about 40% compared to its peak levels at the beginning of 2025, while compared to 2024 the decline is approximately 16%. This does not mean that the market has contracted sharply – rather, buyers have become more cautious and are considering their decisions more carefully, according to the agency’s brokers.

In 2025, record transaction volumes were reported, especially in the first half of the year, when many households accelerated their purchases due to expectations surrounding the euro. At the beginning of 2026, the number of transactions is roughly half compared to that exceptionally strong year, but remains comparable to the levels recorded in 2022, 2023 and 2024. This indicates that the market is gradually returning to a more normal and sustainable rhythm after the extraordinary activity of the previous year.

Prices continue to rise, but more slowly

Despite the more moderate activity, housing prices in Bulgaria’s major cities continue to rise, although at a slower pace. According to Bulgarian Properties, as of February 2026 the average price of residential properties in Sofia has reached around €2,500/sq.m, representing an annual increase of about 18%.

Double-digit growth is also recorded in the other major cities:

• Sofia – average price €2,500/sq.m – 18% annual growth
• Plovdiv – average price €1,520/sq.m – 13% annual growth
• Varna – average price €1,900/sq.m – 17% annual growth
• Burgas – average price €1,700/sq.m – 19% annual growth

Source: Bulgarian Properties

Although the annual increases remain relatively high, monthly dynamics already show a clear slowdown. According to the agency’s observations, monthly price growth is below 2%, which is significantly lower than the rate of appreciation observed at the end of 2025.

Official statistics also show a strong price impulse in recent years. Data from the National Statistical Institute indicate that in 2025 housing prices in Bulgaria increased at double-digit annual rates, which largely explains the inertia that continues to be felt at the beginning of 2026.

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Has the effect of the euro already been exhausted?

According to analysts at Bulgarian Properties, the effect of Bulgaria’s accession to the eurozone has largely already been reflected in property prices during 2025. Expectations surrounding the introduction of the new currency played a strong psychological role in the market and accelerated decisions by both buyers and sellers, the experts say.

This effect combined with other factors that have also had a strong impact on the market – low mortgage interest rates, significant growth in housing loans, rising incomes and expectations of higher inflation. As a result, the market experienced a very strong year, and part of the potential euro effect was “brought forward” before the actual accession.

After Bulgaria’s accession to the eurozone, some increase in interest from foreign buyers has also been reported. For now, however, this interest remains relatively limited and no large-scale investment waves are being observed, industry representatives note. Most often these are smaller investors or people buying a second home. The demand is mainly for more affordable properties – houses in rural areas or holiday apartments in resorts such as Bansko and Sunny Beach. Domestic demand continues to be the main driving force of the residential property market in Bulgaria.

What lies ahead in 2026?

The forecast of Bulgarian Properties for 2026 is for a gradual balancing of the market. After the exceptionally strong 2025, the year will likely see fewer transactions, greater property supply and more moderate price growth.

This means that the residential property market in Bulgaria is gradually moving from a phase of rapid growth to a more normal cycle in which buyers and sellers make more measured decisions and price dynamics become more sustainable.