Properties in Sofia - where and how much they have appreciated for the past 3 years

Which are the cheapest and most expensive residential districts in the capital of Bulgaria nowadays?

Where is the strongest and worst growth in prices in the past 3 years?

Today the average residential property price in Sofia is over 1080 Euro/sq.m., but that doesn’t stop buyers, as there is growth - both in property transactions and construction activity.

This is due both to the improvement of the city's infrastructure and the increase in its inhabitants, the low-interest rates on bank loans and the increased income of the population as compared to 2015, with which the current analysis is linked.

We contacted one of the leading real estate agencies - BULGARIAN PROPERTIES to find out how the prices in Sofia changed at the end of the second quarter of 2018 compared to June 30, 2015.

The data shows that in five of Sofia's residential districts a growth in prices is reported by more than 50%, while in 31 there is an increase of over 40%.

In 71 neighborhoods the total growth is more than 30%, while in all, without one of the metropolitan areas, we have an increase of over 20%. This fact makes real estate one of the best investments in the last 3 years, as the average appreciation for this period is 36%.

The highest growth in prices

The most serious price growth in Sofia is reported for the dwellings set in the neighborhoods which 3 years ago were offering one of the lowest prices (the low base is an easy way to report higher growth) or those with good location, or with a low supply of new homes.

In 2015, in a total of 4 of the 5 neighborhoods, with a 50% increase, prices were between 550 and 660 Euro/sq.m. This allows the properties in Levski B district to rise by 59.58%, and in Fondovi Zhilishta and Gevgeliiski neighbourhoods to add up to 55 and 53 percent.

Dwellings set in Ovcha Kupel 1 district are also high in the chart, where the real estate agency reports an increase of 50.55% in the average prices. In the top 5 are added the properties in Yavorov, where today prices are 56% above the levels of 2015.

Which are the other quarters, which had the highest growth in Sofia?

In the top 10 there are four of the districts in the periphery of the capital - Obelia 2, Lyulin 4, 5 and 7, as well as Ivan Vazov, located between the National Palace of Culture, South Park and Vitosha Blvd.

The lowest increase in the last three years is reported in Simeonovo (17.93%), Zone B-5 (20.47%), Gorna Banya (20.92%), Dragalevtsi (21.08%), Vitosha (24.92%), Poduyane (26.12%), Oborishte (26.15%) and Pavlovo (27.33%).

In three of the above-mentioned quarters there is probably the most new construction, which appeared on the market - Vitosha, Studentski Grad and Krastova vada. The good projects there, combined with competitive prices which are lower than the average for Sofia, are also pushing some buyers in this direction.

"It can be seen that in the list of neighborhoods with highest price increase are set also more peripheral ones, which previously offered lower prices, as well as neighbourhoods with developing infrastructure and subways. Another reason for the appreciation in these regions is the change in their appearance and the start of new construction, which is on a qualitatively different level, compared to the predominant supply of panel dwellings in the large residential complexes, which in turn also raises prices.

I.e. we probably have a combination of several factors, among which new construction plays an important role in the movement of prices in the predominantly panel-built quarters, "says Polina Stoykova, CEO of BULGARIAN PROPERTIES.

Most expensive and cheapest can be bought in ...

Only a few weeks ago we informed you that the most expensive properties in the capital are Doctor's Memorial, Ivan Vazov, Yavorov, Medical Academy, Iztok and Lozenets. In the top 10 are also the City Centre, Izgrev, Oborishte and Strelbishte.

The cheapest is in Moderno Predgradie, Orlandovtsi, Obelya, Lyulin 2, Svoboda, Lyulin 5 and 9, as well as in Krasna Polyana and Lyulin 1.

Take a look at our new apartments for sale in Sofia


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