The property market in Bulgaria reports a sharp decline in transactions, while housing prices continue to rise. In the third quarter of 2026, 45,312 sales were registered, which is a decrease of 22.1% compared to the same period in 2025, when transactions were 58,184. The data is from the Registry Agency.
The largest market - Sofia, is also shrinking. In the capital in July-September, 7,282 sales were registered compared to 9,238 a year earlier. This means a decrease of 21.2% on an annual basis. The decline follows weaker results in the second quarter, when the country reported 45,965 sales compared to 56,010 in the same period in 2025.
Expert warns of crisis
Financial analyst Max Baklanyan defines the trend as the beginning of a serious property crisis. He told bTV that the traditional asset “has reached levels from which it will no longer grow“.
Baklanyan points to the decreasing number of transactions as the main worrying signal. According to him, the continued increase in prices has put housing out of reach of more and more buyers, and the market is already entering a phase in which the definition “cooling“ may not be enough. These estimates are the analyst's and do not represent an official conclusion of a state institution.
Prices do not yet show a general decline
Official statistics paint a different picture for prices. The National Statistical Institute reports a 4.5% increase in housing in the second quarter compared to the first quarter of 2026. On an annual basis, the increase reaches 15.5%.
In Sofia, the growth for the quarter was 2.4%, and in Plovdiv - 5.8%. An increase was also registered in Stara Zagora by 2.9%, as well as in Varna by 2.8%. The only reported decrease among the mentioned large cities is in Burgas - by 1.5%.
Thus, the market sends two simultaneously visible signals - transactions are decreasing sharply, but sales prices are still moving upwards. This means that at the moment, official data confirms a contraction in activity, but not a broad decline in prices. Whether the process will develop into a crisis will depend on the development of demand, income, credit activity and the willingness of sellers to adjust their offers.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be seen at imot.bg