Sofia Housing Market in Q1 2026: Market report by BULGARIAN PROPERTIES

After two years of exceptionally strong price growth, limited supply and euphoria fuelled by the expected introduction of the euro, Sofia’s residential property market entered a new cycle in the first quarter of 2026.

The period was characterised by existing demand, but also by more moderate activity, as buyers and sellers reassessed their behaviour.

The market began to change as early as the end of 2025, when the first signs of a declining transaction volume were observed. At that time, however, this was combined with accelerated price growth ahead of Bulgaria’s entry into the eurozone. In the first months of 2026, in addition to a decline in the number of transactions, we are witnessing a slowdown in the pace of price growth and an increase in supply.

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Property Prices: Growth Is Slowing Down

In the first quarter, the average price of actual transactions in Sofia stood at ˆ2,680/sq.m., according to BULGARIAN PROPERTIES. This is a slight decrease compared with ˆ2,790/sq.m. at the end of 2025, but it still represents annual growth of around 29% compared with the average price of ˆ2,080/sq.m. at the beginning of 2025.

The average final price of purchased apartments reached ˆ217,500, compared with ˆ150,000 at the beginning of 2025.

Sales Volumes: Decline Compared with the Peak Year of 2025

According to data from the Registry Agency, 7,529 transactions were registered in Sofia in the first quarter — 12.3% fewer year-on-year. These are the first figures showing a decline in transactions since 2022 and 2023. Both then and now, this decrease is largely due to peak sales levels in the preceding year and the subsequent cooling of the market.

The market is returning to a more sustainable rhythm. Buyers are more cautious, but demand remains present, while sellers are adapting to the new reality.

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