Bulgaria is among the European countries with the lowest intensity of housing construction in the last decade. Between 2016 and 2025, 26.2 homes per 1,000 people have been completed in the country, according to data from the consulting company Cushman & Wakefield.
Our country ranks 17th among the 21 European markets included in the analysis. Weaker results were reported only in the United Kingdom, Hungary, Spain and Portugal. In these countries, the number of completed homes per 1,000 people is 23.9, 18.2, 16.4 and 15.7, respectively.
A comparison with neighboring Romania shows a significant difference in construction activity. Over the same ten-year period, 636,310 homes were completed there, or 32.9 per 1,000 people. This is about 26% more than the indicator for Bulgaria.
Romania ranks close to Germany, where 33.6 homes were built per 1,000 people, Slovakia with 34.4 and the Czech Republic with 31.5.
A significantly higher construction activity was reported in Poland, where 55.2 homes were completed per 1,000 people in ten years. In France, the indicator reaches 52.8, in the Netherlands - 39, and in Finland - 62.8. Thus, in relation to the population in Finland, nearly 2.4 times more homes were built than in Bulgaria.
The data show significant differences in the rates of renovation and expansion of the housing stock in Europe. However, the low number of completed homes relative to the population does not necessarily mean a shortage of properties, as the market is also affected by demographic changes, migration, the number of unoccupied homes and the concentration of demand in large cities.
At the same time, the construction sector in Bulgaria is facing a significant increase in costs. According to Eurostat, between 2010 and 2024, the prices of construction products for new residential buildings in our country increased by 145%, with an average increase of 56% for the European Union. This places Bulgaria among the countries with the strongest increase in the price of residential construction during the period.
At the European level, the construction sector is also experiencing difficulties. According to the report of the European Construction Industry Federation for 2026, investments in construction decreased by 2.1% in real terms in 2025 after a decline of 2.5% in the previous year. The main reasons include high construction costs, limited access to financing and investor caution.
For 2026, the organization forecasts a moderate recovery in construction investment in Europe by 2.7%, including a gradual revival in the construction of new homes.
Meanwhile, the housing market in Bulgaria is showing signs of cooling in transactions. According to Eurostat data, the number of homes sold in the second quarter of 2026 decreased by 18.1% year-on-year. The decline is the third largest among the EU countries included in the statistics, after Luxembourg and Croatia.
Thus, the Bulgarian housing market is characterized by a relatively low volume of completed construction relative to the population over the last decade, a significant increase in the cost of construction activities and a weakening of activity in purchases and sales in 2026.
Detailed statistics on average property prices in Bulgaria by cities and neighborhoods can be seen at imot.bg