It is no secret that the UK is experiencing a national housing shortage amid rising homelessness and a long waiting list for social housing. By the end of 2024, there were 720,000 empty housing units in the country, according to government figures. Bringing these properties back into use would make a significant contribution to the plans of the Labour government, which wants to add 1.5 million housing units to the country's housing stock by the end of its mandate.
Over 265,000 housing units have been empty for more than half a year, which puts them in the “long-term empty“ column. This also affects the price of neighboring properties, as empty homes become a magnet for homeless and criminal subjects.
To a large extent, the reason for the increase in the number of empty homes lies in state policy, namely the termination in 2016 of the Empty Homes Housing Program and the reduction of remuneration under the "New Homes Bonus" scheme. Thus, from 2016 to 2024. the number of empty homes increases by 22%, and long-term empty homes by 32%.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be found at imot.bg