Before the coronavirus pandemic, the high rate of housing price increases, and not so much rent levels, were the reason why more and more Europeans were waiting for the moment when they would buy a home. In recent years, not only have the prices of this type of real estate not fallen, but utility costs have also increased. Thus, the percentage of those who are unable to afford housing has increased even more. According to Eurostat data, in the period from 014 to 2025, the price per square meter of residential area increased by 53%, and rents by 17%. In Bulgaria, the increase in price for this period is 156%, according to Eurostat data. The most expensive Bulgarian cities, after Sofia, where the average asking price is 2,300 EUR/sq m, are Varna – 1800 EUR/sq m and Plovdiv – 1500 EUR/sq m.
“Rising costs are affecting more and more households, as more and more citizens cannot afford their homes and are at risk of becoming homeless“, FRA Director Sirpa Rautio stated in the report.
So in practice, even if a person has a home, if they do not receive a good enough monthly income to pay their utilities and taxes, they may be forced to part with it.
This creates two vulnerable groups – one is for older people who have their own home, but the utility costs are high and they are unable to cover them, and the second is for young people who do not have a high enough monthly income to decide to take the step of buying a home, analysts explain.
All this leads to an increase in homelessness, which FRA has already registered in a number of European countries. Last year, the number of homeless people on the Old Continent reached 1.3 million people.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be seen at imot.bg