There are two factors that will influence housing prices from the beginning of 2026, when the euro will be officially introduced in Bulgaria. One is the increase in the price of construction materials, which will directly affect the price of newly built homes, and the other – the possible entry of funds that will buy up entire buildings – something new for the Bulgarian property market.
„The fact that we do not have large Bulgarian companies and we have sold everything. The fact that all concessions have been given to foreign companies. The fact that we buy everything from abroad. All this is not a problem. The lev is important and that we preserve the Bulgarian identity. But the Bulgarian identity is long gone. Every average businessman aims to create a company, sell himself in order to go and buy a house in Greece to rent out. This is our nationalism“, says Miroslav Yazov, owner of a real estate company. He is “for“ the euro and recalls that property prices have long been in euros anyway. In reality, they have never been in leva – from the US dollar in mid-July 2003, they went directly to euros.
Many things have long been calculated in euros – there is security, predictability. There are many theories about property. However, there are several facts. The most important is that by adopting the euro, the mandatory reserves of Bulgarian banks will fall from 12 to 1%, which will free up a serious financial resource and accordingly appear on the market”, explains Yazov. He recalls that in this regard there are many theories about where this financial resource will go. It could go into the pockets of Borisov and Peevski. It could go to cover the debt holes of Greeks, Germans, French and everyone there. It could also go to the real estate market. We have no way of knowing that. If it goes to the real estate market, interest rates will remain low and people will continue to be able to afford housing," the intermediary predicts. What the buyer is interested in is the final price and whether he will be able to cover the monthly installment to the bank.
Regarding the price per square meter, now “typically Bulgarian, we will create an artificial inflation“, Yazov predicts. They often give Croatia and the inflation there as an example, but we must take into account one very important factor - namely, that Croatia is a tourist destination. At the moment the eurozone opened, Italians, Swiss, Austrians went on vacation there en masse and in fact prices rose because of the influx of people, not because they simply entered the eurozone. “The prices of construction materials will probably also rise“, Yazov predicts. This will inevitably affect the price per square meter of new residential space.
“Given that we are in the eurozone, we are becoming very predictable and will become an object of interest for large companies that buy entire buildings. So if you are wondering who will buy these properties, such funds will come. One fund will buy 100 apartments at once and how in this situation will they chase a price from a client who buys one apartment. Naturally, the negative will be for the end user. "It is important for the investor to build a building, sell the apartments, take the profit and go build the next building," Yazov adds.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be found at imot.bg