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
February matched the success of January, and the real estate market in Bulgaria remains at its peak! Deals were closed across all segments – from new developments in Sofia and major cities to coastal and ski properties, as well as rural houses in preparation for the spring-summer season.
Today, we proudly present the Agents of the Month for March – the top professionals at BULGARIAN...
Many are moving away from the crowded and expensive markets of Western Europe to explore new opportunities in countries like Bulgaria, Romania, and North Macedonia. These locations offer lower costs, rich culture, scenic beauty, and affordable property prices, making them attractive for diversification.
Key Cities Driving Real Estate Growth in Eastern Europe
Cities su...
January kicked off with a real estate boom, setting new market records! Deals were being closed from the very first days of the year, demand was at an all-time high, and we ramped up advertising while adding new attractive properties for sale which attracted buyers' attention.
This dynamic start led to an exceptionally strong month for our agents – and this time, entire offices made...
Housing prices have increased by 3.9% in the third quarter of 2024 compared to the previous quarter, according to data from the National Statistical Institute (NSI). The largest growth was recorded in Sofia (+5.4%), followed by Varna (+5.3%), Stara Zagora (+4.3%), and Burgas (+4.2%). A decrease was noted in the city of Ruse (-5.9%). On an annual basis, housing prices in Bulgaria have risen by 16.5...
