Call
Send Email
Messenger
WhatsApp
Sofia Housing Market Report: Prices Rise 23% in 2022 Amid Strong Demand and Limited Supply
The housing market in Sofia, Bulgaria, has experienced significant growth in prices over the past two years. According to BULGARIAN PROPERTIES data, the average price of a property in the city has risen by 23% in 2022 alone.
This trend is due to a combination of factors, including a strong economy, low unemployment, high demand for housing in the city (including for investment) and most of all - high inflation and cost of building materials.
In 2020, the average price of a property in Sofia was 1,120 €/sq.m., with a 3.7% annual increase in the first quarter. However, the market saw a slowdown due to the COVID-19 pandemic and in the second quarter with a 0% increase. By the third quarter, prices started to pick up again with a 2.5% increase and by the fourth quarter, the average price of a property was 1,120 €/sq.m. with 2.3% increase.
In 2021, the market continued to grow with an average price of 1,150 €/sq.m. in the first quarter and a 2.7% increase. By the second quarter, prices saw a significant jump with an 8.8% increase and an average price of 1,175 €/sq.m. The market continued to grow in the third quarter with a 7.6% increase and an average price of 1,200 €/sq.m. By the fourth quarter, prices saw another significant jump with a 12.5% increase and an average price of 1,260 €/sq.m.
In 2022, the market experienced an even higher growth rate, with the average price of a property reaching 1,345 €/sq.m. in the first quarter and a 17% increase. By the second quarter, prices saw another significant jump with a 21.3% increase and an average price of 1,425 €/sq.m.. The market continued to grow in the third quarter with a 22.5% increase and an average price of 1,470 €/sq.m. By the fourth quarter, prices saw the highest growth rate with a 23% increase and an average price of 1,550 €/sq.m.
The high demand for housing in Sofia has been driven mostly by local buyers. The city has a diverse economy with a growing technology sector, which has led to an influx of young professionals and families moving to the area. This has resulted in a shortage of available properties, leading to an increase in prices.
Despite the high prices, the market in Sofia remains active. Properties are selling quickly and there are still many buyers looking to purchase.
If you have a property for sale in Sofia, list it with us today for a quick sale!
Check online the price of your property
Check our properties in Sofia
Read more news
More News
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 e...
Spring is approaching, and we continue the year with confidence and professionalism!
February confirmed the trend toward a more balanced and sustainable real estate market In Bulgaria after eurozone accession. Activity remains stable, negotiations are more thoughtful, and transactions are well-structured and carefully prepared.
In this environment, our Agents of the ...
On February 24, 2026, the Inter Expo Center in Sofia hosted the first edition of the Real Estate Business Forum for the year, organized by Imoti.net. The event brought together leading experts, managers, and professionals from the real estate sector to discuss the future of the industry, the role of technology, and the changing working environment for agencies.
Among the participant...
Bulgaria’s entry into the Eurozone marks a defining moment for the country’s real estate sector. The adoption of the euro is no longer an expectation but a reality, and its impact is already visible across residential and investment markets. Greater transparency, improved confidence, and deeper integration with European financial systems are reshaping how property is priced, financed, and perceive...
