Housing in Bulgaria's Capital Sofia Rose by 49% Within Four Years

2020-09-09   |

Housing in Sofia rose by 48.6% in four years. This ranks the capital in first place among the major cities in the ranking of property prices. The prices of newly built apartments in Sofia in the first quarter of the year are 43.3% higher than in 2015, according to data from the National Statistical Institute. In the case of existing apartments, the increase for the same period is much higher - by 50.6%. For such a long period of time in the rise in price of new and old apartments in Sofia there is the smallest difference compared to other major cities in the country with over 120 thousand inhabitants. This shows that there is a serious demand in the capital for both new construction and existing housing.

In second place among the six largest cities in the country is Plovdiv with an increase in property prices by nearly 48% over a period of four years. In contrast to Sofia, in the city under the hills the rise in price of new construction is significantly higher than that of old homes. The increase in the prices of new apartments in Plovdiv is by 53.1% compared to 2015. Dwellings in existing buildings in the city under the hills for the same period have risen by 45.4%.

The top five of the big cities with the fastest rising real estate is supplemented by Varna, Stara Zagora and Ruse, where the increase in prices for the period is at a similar pace - by 34-37%. However, with a small lead in third place in the overall ranking is Stara Zagora (+ 37.3%), followed by Ruse (+ 35%) and Varna (+ 34.5%). But for each of these cities there is a significant difference between the movement of prices of new and existing housing.
In Varna the new apartments have risen in price by 24.1% for the period, and in the existing ones the price increase is much bigger - by over 40%. As in the NSI data, real estate transactions in the resort complexes are not included.

In Stara Zagora the situation is different. The increase in the price of new construction is significantly higher - by 54.2%, as in this segment of the market the city is ahead of even Sofia and Plovdiv and ranks first in the ranking. In new construction, the movement of prices depends a lot on how many new buildings come on the market, in which neighborhood they are located, as well as on the type of construction - whether it is a luxury gated complex or a simpler building. All these factors have led to more expensive new apartments in Stara Zagora than in Sofia, although the demand for housing in the capital is greatest due to the rapid growth of the city. For the existing apartments in Stara Zagora, the increase in prices is also serious - by nearly 32%, according to national statistics.
In Ruse, the apartments in existing buildings have risen in price by over 35% for the period, while in the new ones the increase in prices is significantly less - by 21.2%.

The last sixth place in the ranking for property prices in the largest cities is for Burgas. Housing prices in the seaside town have increased by an average of 20.8% compared to 2015, according to NSI data. In the case of new apartments the increase is only by 12%, but in the case of dwellings in existing buildings the increase in prices is much higher - by 29.3%.

For the country as a whole, the housing prices for the period have risen by 35.5% and in the movement of the prices of the new and old construction there is a small advantage for the existing dwellings. Apartments in old buildings have risen in price by 37.7%, and the growth of prices of new construction is by 31.8%./Trud

Check our top offers in Sofia

  Read more news

Properties in Bansko
Buy your own property in the top ski resort of Bansko! An all-year-round resort suitable for winter and summer tourism with the best prices in Europe! Prices starting from as low as 10,000 Euros!
See More
Euphoria Club Hotel & Resort - your paradise in Borovets!
Fully furnished studios, 1- or 2- bedroom apartments and luxury villas in a unique complex in Borovets. All-year-round complex with all needed facilities for your comfortable stay - lobby bar, reception, bar and restaurant, outdoor and indoor pool, SPA center, underground parking and many more. Choose your holiday home here! No buyer's commission! Suitable for rental income.
See More

More News

Company news
BULGARIAN PROPERTIES Agents of September 2020

🌞 August was the MONTH of the MONTHS with a record-high 📈 activity on the Bulgarian real estate market and excellent results of our offices throughout the country.
And Ivan Krumov was the AGENT of the AGENTS with sales volume in the 🏗 new phase of the hit complex ⭐Park View Residence⭐, which only a few manage to make for a whole year! In just two months...

03 September, 2020
Company news
BULGARIAN PROPERTIES has become a Gold Member of PropTech Bulgaria

We are proud do announce that we have been become a GOLD MEMBER of PropTech Bulgaria - the PropTech Hub of Bulgaria, officially representing the largest international PropTech organizations, as well as Bulgaria in these organizations.

We have been recognized as construction and real estate innovators and we are happy to be able to contribute to the technological development in the ...

03 September, 2020
latest news
CNN Travel - Bulgaria: Wild majesty in one of Europe's oldest countries

(CNN) — For more than a century, Bulgaria has had little trouble enticing people to its beach resorts scattered along the Black Sea coast. City-breakers head to its main cities -- including Sofia, the capital, and Plovdiv, the 2019 European Capital of Culture -- for an enjoyable blend of culture and hearty Bulgarian gastronomy.

Rila National Park -- the country's large...

31 August, 2020
Company news
BULGARIAN PROPERTIES Agents of August 2020

With wishes for a wonderful 🌞 summer, we present you our 🏆 Agents of the month for August 2020!

They received their 🥇 awards based on their achievements over the past month, which was characterized by 📈 high market activity, successful deals and many satisfied 👫 customers.
July brought us bright achievements and great recognition! Our w...

04 August, 2020