Call
Send Email
Messenger
WhatsApp
Bulgaria Sees Significant Property Price Growth, Ranking Second Globally in 2024
Property prices in Bulgaria continue to experience significant growth, with data from the National Statistical Institute revealing a 15.1% increase over the past 12 months leading up to June 2024. In the second quarter of the year alone, prices rose by 3.4%.
This impressive rise positions Bulgaria among nine EU countries that have seen property prices increase by over 100% in the last 14 years, according to Eurostat.
In Knight Frank's Global House Price Index, Bulgaria ranks third for the past 12 months, surpassed only by Turkey and Poland, where property prices increased by 46.4% and 18%, respectively. Bulgaria's growth of 15.1% makes it one of six countries out of 56 analyzed that reported an increase of over 10%. Following Bulgaria are Taiwan (+11.9%), North Macedonia (+11.5%), and Colombia (+10.9%).
Additionally, three other European countries— the Netherlands, Greece, and Croatia—along with Mexico, are among the top 10, each seeing price growth exceeding 9%.
However, the global property market is not uniform, as 13 of the analysed countries have reported declines in property prices. Hong Kong and Luxembourg experienced the most significant drops, at 12.7% and 10.9%, respectively. Other notable decreases occurred in Jersey, Finland, China, and several major European economies, including France, Germany, and Austria.
In a quarterly comparison, Lithuania's property prices fell by 5.3%. Conversely, price increases persisted in North Macedonia (+8.2%), Turkey (+6.5%), and Hungary (+5.2%), with Norway, Australia, and Poland also experiencing rises exceeding 4%.
By the end of 2024, Bulgaria is expected to rank second globally in property price appreciation, trailing only Turkey. Bulgaria's projected growth stands at 10.8%, while Turkey is anticipated to lead with 14.4%. Poland and Norway are expected to see growth rates of 9.3% and 8.3%, respectively. The most significant declines in property prices compared to the end of 2023 are anticipated in Finland, China, and Ukraine.
Check out our properties for sale
Read more news
More News
As autumn is in full swing, the real estate market in Bulgaria remains stable and active in anticipation of the eurozone entry.
Property prices continue to rise, and interest in new-build projects remains strong, especially for modern complexes with guaranteed quality. The year also appears to be one of the strongest for a rise in demand for rural houses which are offered in quite ...
The real estate market in Bulgaria's major cities is calmer than expected, just months before Bulgaria joins the eurozone. The euphoria and large sales volume remained in the first half of the year, until the decision to accept the country into the eurozone. This was commented on by Polina Stoykova MRICS, Managing Director and co-owner of the real estate agency Bulgarian Properties, during the Rea...
Twenty years ago, Bulgaria became one of the most attractive destinations for British buyers searching for affordable holiday homes and retirement havens. Now, two decades later, the trend is back – and stronger than ever.
One of the many inspiring stories we’ve witnessed recently is that of Yossef, a buyer from the UK who came to explore Bulgaria with the hope of find...
🏆 Your Trusted Partners in the Peak of the Real Estate Season!
As autumn settles in, the property market in Bulgaria is showing no signs of slowing down!
Between national holidays, the start of the school year, and the buzz of city life, we at BULGARIAN PROPERTIES have been working at full speed to bring buyers and sellers together in successful transactions...
