Housing Index in Bulgaria increased to 237.55 points in the first quarter of 2025 from 228 points in the fourth quarter of 2024. This dataset provides - Bulgaria House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about House Prices Growth

• Bulgaria house prices grew 15.1% YoY in Jun 2024, following an increase of 16.0% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2006 to Jun 2024, with an average growth rate of 6.3%.
• House price data reached an all-time high of 34.6% in Dec 2007 and a record low of -26.8% in Sep 2009.

In 2024, the average apartment rent in Bulgaria ranged between three and nine euros per square meter. The province with the highest rents was Sofia City, where renting an apartment cost on average nine euros per square meter. Varna, Burgas, and Blagoevgrad had the second-highest rental price, at seven euros per square meter. In Bulgaria, less than 15 percent of households lived in a rented home. Nevertheless, the rental market has been growing in recent years, with rent prices rising faster than the average in the euro area.

House price index in Bulgaria, December, 2024 The most recent value is 215.49 index points as of Q4 2024, an increase compared to the previous value of 209.73 index points. Historically, the average for Bulgaria from Q1 1998 to Q4 2024 is 96.8 index points. The minimum of 32 index points was recorded in Q1 1998, while the maximum of 215.49 index points was reached in Q4 2024. | TheGlobalEconomy.com

In the fourth quarter of 2024, the Bulgaria, Spain, and Portugal registered the highest house price increase in real terms (adjusted for inflation). In Bulgaria, house prices outgrew inflation by nearly ** percent. When comparing the nominal price change, which does not take inflation into consideration, the average house price growth was even higher.

Meanwhile, many countries experienced declining prices, with Turkey recording the biggest decline, at ** percent. That has to do with a broader trend of a slowing global housing market.

The house price to income index in Europe declined in almost all European countries in 2023, indicating that income grew faster than house prices. Portugal, Luxembourg, and the Netherlands led the house price to income index ranking in 2023, with values exceeding *** index points. Romania, Bulgaria, and Finland were on the other side of the spectrum, with less than 100 index points. The house price to income ratio is an indicator for the development of housing affordability across OECD countries and is calculated as the nominal house prices divided by nominal disposable income per head, with 2015 chosen as a base year. A ratio higher than 100 means that the nominal house price growth since 2015 has outpaced the nominal disposable income growth, and housing is therefore comparatively less affordable. In 2023, the OECD average stood at ***** index points.

Real residential property prices Y-on-Y, percent change in Bulgaria, December, 2024 The most recent value is 15.9 percent as of Q4 2024, an increase compared to the previous value of 14.34 percent. Historically, the average for Bulgaria from Q1 1999 to Q4 2024 is 3.5 percent. The minimum of -27.56 percent was recorded in Q3 2009, while the maximum of 50.36 percent was reached in Q4 2004. | TheGlobalEconomy.com

In 2024, Bulgaria, Hungary, and Spain exhibited the highest inflation-adjusted increase in house prices among the countries under observation. In the fourth quarter of the year, house prices in Bulgaria grew by nearly ** percent in real terms, whereas globally, prices declined by about * percent. The country with the highest price drop was Luxembourg, at almost ***** percent. Turkey, France, and Austria also experienced a notable decline in prices, at **, *** and *** percent, respectively. These figures are based on the development of the real house price index, with 2010 chosen as a baseline year. When looking at the long-term index development, Turkey observed the biggest increase in prices in the region. When looking at the average house price in the major European markets, Norway emerged as the country with the most expensive residential property. Meanwhile, cities such as Geneva, Zurich, and London had the highest average apartment prices.

Turkey experienced the highest annual change in house prices in 2024, followed by Bulgaria and Russia. In the fourth quarter of the year, the nominal house price in Turkey grew by **** percent, while in Bulgaria and Russia, the increase was ** and ** percent, respectively. Meanwhile, many countries saw prices fall throughout the year. That has to do with an overall cooling of the global housing market that started in 2022. When accounting for inflation, house price growth was slower, and even more countries saw the market shrink.

Bulgaria - Median of the housing cost burden distribution: Males was 14.00% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Bulgaria - Median of the housing cost burden distribution: Males - last updated from the EUROSTAT on June of 2025. Historically, Bulgaria - Median of the housing cost burden distribution: Males reached a record high of 22.00% in December of 2016 and a record low of 14.00% in December of 2024.

Portugal, the Netherlands and Austria are among the countries where house prices grew the most in comparison to income since 2015. In the fourth quarter of 2024, the house price to income ratio in the Netherlands and Austria exceeded *** index points, indicating that since 2015, house price growth has outpaced income growth by ** percent. In Portugal, the index amounted to *** index points in the same period. This was not the case in all countries in the ranking: In Finland, Bulgaria, and Romania, the opposite trend was observed, showing that incomes grew faster than house prices. The house price to income ratio is calculated as the nominal house prices divided by nominal income per capita, with 2015 chosen as the base year of the index. The ratio signifies the development of housing affordability, with higher figures meaning housing is more unaffordable. There are other indices, such as RHPI (or house price indices corrected by inflation rates) which look at this as well.

Bulgaria - Median of the housing cost burden distribution: Less than 18 years was 14.00% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Bulgaria - Median of the housing cost burden distribution: Less than 18 years - last updated from the EUROSTAT on July of 2025. Historically, Bulgaria - Median of the housing cost burden distribution: Less than 18 years reached a record high of 22.80% in December of 2016 and a record low of 14.00% in December of 2024.

Bulgaria - Electricity prices: Non-household, medium size consumers was EUR0.11 Kilowatt-hour in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Bulgaria - Electricity prices: Non-household, medium size consumers - last updated from the EUROSTAT on July of 2025. Historically, Bulgaria - Electricity prices: Non-household, medium size consumers reached a record high of EUR0.24 Kilowatt-hour in December of 2022 and a record low of EUR0.06 Kilowatt-hour in December of 2011.

Bulgaria: Furniture and household maintenance prices, world average = 100: The latest value from 2021 is 79.46 index points, an increase from 73.8 index points in 2017. In comparison, the world average is 82.49 index points, based on data from 165 countries. Historically, the average for Bulgaria from 2017 to 2021 is 76.63 index points. The minimum value, 73.8 index points, was reached in 2017 while the maximum of 79.46 index points was recorded in 2021.

The financial crisis of 2008 has caused a number of changes in the investment of both companies and individuals. One of the widely invested assets became the real estate market. The decline in real estate prices was noted in 2009 and 2012-2014. The highest decrease in property prices was indicated in Bulgaria, Ireland, Lithuania, Latvia, Slovakia and Estonia. Property prices, despite the crisis, increased however in Belgium and Germany. On average, property prices in the EU declined by 4.4% in 2009, 1.9% in 2012 and 1.2% in 2013.

Bulgaria - Housing cost overburden rate: Below 60% of median equivalised income was 29.40% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Bulgaria - Housing cost overburden rate: Below 60% of median equivalised income - last updated from the EUROSTAT on May of 2025. Historically, Bulgaria - Housing cost overburden rate: Below 60% of median equivalised income reached a record high of 55.30% in December of 2016 and a record low of 20.20% in December of 2010.

Global house prices experienced a significant shift in 2022, with advanced economies seeing a notable decline after a prolonged period of growth. The real house price index (adjusted for inflation) for advanced economies peaked at nearly *** index points in early 2022 before falling to around ****** points by the fourth quarter of 2024. This represents a reversal of the upward trend that had characterized the housing market for roughly a decade. Conversely, real house prices in emerging economies resumed growing, after a brief correction in the second half of 2022. What is behind the slowdown? Inflation and slow economic growth have been the primary drivers for the cooling of the housing market. Secondly, the growing gap between incomes and house prices since 2012 has decreased the affordability of homeownership. Last but not least, homebuyers in 2024 faced dramatically higher mortgage interest rates, further contributing to worsening sentiment and declining transactions. Some markets continue to grow While many countries witnessed a deceleration in house price growth in 2022, some markets continued to see substantial increases. Turkey, in particular, stood out with a nominal increase in house prices of over ** percent in the first quarter of 2024. Other countries that recorded a two-digit growth include Russia and the United Arab Emirates. When accounting for inflation, the three countries with the fastest growing residential prices in early 2024 were the United Arab Emirates, Poland, and Bulgaria.

The annual average interest rate on new residential loans in Bulgaria declined significantly between 2009 and 2023. Since 2009, the annual average interest rate has decreased from 9.04 percent to 3.11 percent in 2022 - the lowest rate on record. Despite the slight rise in 2023 to 3.53 percent, the overall trend suggests a significant decline in interest rates.

Bulgaria - Median of the housing cost burden distribution: Below 60% of median equivalised income was 30.30% in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Bulgaria - Median of the housing cost burden distribution: Below 60% of median equivalised income - last updated from the EUROSTAT on July of 2025. Historically, Bulgaria - Median of the housing cost burden distribution: Below 60% of median equivalised income reached a record high of 43.20% in December of 2016 and a record low of 25.80% in December of 2010.

The total number of dwellings per one thousand citizens in European countries in 2023 was the highest in Bulgaria and the lowest in Greece. There were approximately *** dwellings for every one thousand citizens in Bulgaria and in Greece, this figure amounted to ***. Germany had the largest total housing stock of **** million dwellings in the same year, of which there were *** per one thousand citizens. How prevalent is homeownership across European nations? Homeownership rates in Europe vary widely due to cultural, economic, and policy factors. Usually, countries in Southern and Eastern Europe tend to have higher rates of homeownership compared to those in Northern and Western Europe. For instance, in 2022, the homeownership rates in countries like Serbia, Romania, and Slovakia were quite high, topping ** percent. On the contrary, nations such as Germany, Switzerland, and Austria exhibited lower rates, below ** percent. New dwelling transaction prices across Europe The transaction price of a new dwelling includes the cost of the property itself, along with any additional expenses like taxes, fees, or other associated costs pertaining to the acquisition. In 2023, the average transaction price for a new dwelling in Europe was the highest in Austria, Germany, and France. Romania, Greece and Bosnia and Herzegovina had the lowest average transaction prices compared to other European countries.