"Real estate fraud is decreasing compared to the beginning of the transition in Bulgaria, but new forms of "client-stealing" are emerging. This is done through advertising tricks with advantageous offers for the sale of a home or for rent, which subsequently turn out not to exist, the goal is then to offer clients what is available on the market, not what they need, explains Alexander Bochev, Chairman of the Board of Directors of the National Association "Real Estate" (NSNI), quoted by BTA.
Incorrect advertisements, especially in the field of rentals, are extremely numerous, Bochev commented, adding that they have grown exponentially in recent years. The problem occurs most often at low rental price levels of around EUR 500 - 600 per month.
The chairman of the NSNI noted that due to the lack of a mandatory register of real estate agents and brokers, the only way to find out more about the agency whose services we will use is through recommendations from acquaintances and relatives or through reviews of the agency on the Internet. If you see an illogically good price for renting or purchasing a property, it is not a bad idea to check the other ads published by the relevant agency. If it turns out that it publishes ads with prices much lower than the others, there is obviously something wrong, Bochev commented.
According to him, the main concerns of Bulgarians when buying or selling property are similar to those when buying any expensive product - whether they will get what they pay for, whether it will be of the required quality and exactly what they needed. Property buyers are mainly concerned about the documentation accompanying the transaction, the quality of the property encumbrance check, Bochev added, and pointed out that compared to the nineties, property fraud in Bulgaria is already decreasing.
Property sellers also have concerns, and they are related to whether they will receive their money. Bochev noted that many of the transactions are through mortgage loans, pointing out that not all sellers are aware that part of the money from the loan is received after a certain period after the transaction is confessed to a notary. Due to such concerns, and not only, one of the main roles of real estate agents is to ensure a smooth process of buying and selling a property, which must be explained to both parties, commented the chairman of the NSNI. On rents, prices and the eurozone As the academic school year approaches, the rental market is becoming more active, commented the chairman of the NSNI. He pointed out that this year compared to the previous year there is no significant increase in rents, unlike property prices, which have risen much more than they did in growth. For this reason, the expectations are that this academic year rents, for example in Sofia, in areas around universities, will be around 500 and 600 EUR for two-room apartments, which are among the most sought after by students.
There is also an increase in investment interest in purchasing smaller properties around university centers for the purpose of renting them out, with one- and two-room apartments being sought, while in the more expensive areas of the capital - for example, "Lozenets", "Ivan Vazov", "Izgrev", slightly larger apartments are being sought - with two and three rooms, mainly for personal purposes.
The Chairman of the National Association of Real Estate Investors noted that the topic of the country's membership in the eurozone, which has been in the focus of public attention for at least the last few years, has somewhat contributed to the smooth rise in housing prices during this period. The upward movement of prices on an annual basis is within the range of between 6 and 15 percent, with 2022 and 2024 being the years with the highest price jump of over 15 percent. Bochev reported that so far in 2025 the annual growth of housing prices is slightly higher - about 17 - 18 percent, predicting that it will persist until the end of the year. According to him, however, in 2026, after our admission to the eurozone, as well as in 2027, the market will calm down in terms of price growth to levels of 10 - 12 percent.
Regulation of the industry
The Chairman of the National Council of Construction Industry reminded that so far, there are two bills submitted to the parliament for the regulation of the industry, but they have not yet reached the consideration of the relevant legal committee. "We are confident that this will happen in September or October with the clarity that the parliament has quite serious tasks ahead of it in connection with the country's admission to the eurozone", commented Bochev. He reminded that the two draft regulations are largely similar, and the difference is in who should exercise control over the activity. Our proposal is for this to be a branch chamber, as the activities of builders, notaries, architects, appraisers are regulated, while the other bill proposes that this be done through a state body, without specifying which ministry or agency should do this, Bochev pointed out. The concerns of the NSNI are related to the fact that there is practically no state body that would be willing to undertake such regulatory activity, because it would require a significant amount of resources, and in connection with the need to create and maintain a complex register of all real estate agencies and brokers.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be seen at imot.bg