Call
Send Email
Messenger
WhatsApp
Polina Stoykova and Ivan Krumov about the property market on NOVA TV
Property prices in Bulgaria have jumped by almost 80% in the last 10 years. This is shown by Eurostat data. The most serious price increase was recorded in Estonia - 220%. In our country the jump is nearly 80%, and in Italy the trend is the opposite. There, a cheapening by 8% is reported.
Sofia ranks at the top in terms of property price growth when compared to 107 other cities worldwide. It is impressive that the appreciation in our capital is ahead of Sydney and New York. In a year, the reported jump is almost 9%.
NOVA TV turned to BULGARIAN PROPERTIES for comment on these trends.
The Managing Director of the company, Polina Stoykova MRICS, said that despite the serious price growth, the demand for property in the Bulgarian capital remains high. BULGARIAN PROPERTIES data shows that from 2020 to 2023 prices in Sofia have jumped by another 50%. "The main factors driving the market are the incomes of the population. We see incomes growing steadily in the years since 2010. Another thing that influences the market is the economic growth, low unemployment, low mortgage interest rates," she adds.
Choosing an apartment in a new building remains the preferred option for buyers. "New construction is going at a faster pace. There is a higher amount of sales there for two reasons. The first is that in terms of supply, old construction is lower. The other is that people prefer to buy a new home," says agent Ivan Krumov. He and his colleagues expect price growth to slow in the new year.
View Central Park complex in Sofia
View more properties in Sofia
List a property for sale with us
Read more news
More News
After a rapid increase in house prices in these cities, we are seeing a slight slowdown in growth rates by between 2 and 5 percentage points compared to those of the end of last year.
The fastest price growth continues in Varna, where growth accelerated only after mid-2022 and currently remains at levels close to 20%, while in Plovdiv and Burgas we report an annual growth of around...
2024 kicked off with a dynamic property market in Bulgaria, and this activity was sustained throughout the first quarter, making it one of the strongest quarters in housing market history. This was confirmed by data from the Registry Agency, which showed an increase in sales volumes in the country's leading markets.
This year, the market switched into a higher gear. T...
Spring is here, bringing new opportunities in the real estate market!
March was a month full of property transactions, reinforcing market activity and allowing us to successfully conclude the first quarter of the year. We witnessed significant movement not only in the major cities but also in our favorite seaside and ski resorts. Additionally, the season for buying rural houses is i...
We are proud to announce the opening of our new office in the city of Dupnitsa, located at Knyaz Boris I Street, No. 1, Floor 1.
This strategic move is part of our mission to be as close as possible to our customers and to provide high quality local service for both buyers and sellers.
In our new office, clients will be able to take advantage of the ful...
