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.

Graph and download economic data for Residential Property Prices for Bulgaria (QBGN628BIS) from Q1 1998 to Q4 2024 about Bulgaria, residential, HPI, housing, price index, indexes, and price.

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.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, notably rising interest rates, spiralling inflation and muted economic growth. Revenue is projected to sink at a compound annual rate of 0.6% over the five years through 2025, including an estimated jump of 1.2% in 2025 to €207.6 billion, while the average industry profit margin is forecast to reach 35.1%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing over the two years through 2023. In residential markets, elevated mortgage rates combined with tightening credit conditions eventually ate into demand, inciting a drop in house prices. Rental markets performed well when house prices were elevated (2021-2023), being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent prices to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. However, this has started to turn around in 2025 as interest rates have been falling across Europe in the two years through 2025, reducing borrowing costs for buyers and boosting property transactions. This has helped revenue to rebound slightly in 2025 as estate agents earn commission from property transactions. Revenue is forecast to swell at a compound annual rate of 3.7% over the five years through 2030 to €249.5 billion. Housing prices are recovering in 2025 as fixed-rate mortgages begin to drop and economic uncertainty subsides, aiding revenue growth in the short term. Over the coming years, PropTech—technology-driven innovations designed to improve and streamline the real estate industry—will force estate agents to adapt, shaking up the traditional real estate sector. A notable application of PropTech is the use of AI and data analytics to predict a home’s future value and speed up the process of retrofitting properties to become more sustainable.

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.

Bulgaria - House price index was 15.10% in March of 2025, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Bulgaria - House price index - last updated from the EUROSTAT on July of 2025. Historically, Bulgaria - House price index reached a record high of 34.60% in December of 2007 and a record low of -26.80% in September of 2009.

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.

Residential Property Prices in Bulgaria increased 18.27 percent in December of 2024 over the same month in the previous year. This dataset includes a chart with historical data for Bulgaria Residential Property Prices.

The number of housing units completed in Bulgaria increased significantly between 2018 and 2024. That last year, there were ****** housing units constructed, that was an decrease of more than ***** units compared to the previous year.

The Direct Real Estate Activities industry have come up against numerous headwinds in recent years, ranging from the COVID-19 outbreak in 2020 to the high base rate environment in the years since, which has inflated borrowing costs for potential buyers. This is a sharp contrast to the ultra-low interest environment seen over the decade following the 2008 financial crisis. Still, revenue is forecast to edge upwards at a compound annual rate of 0.6% over the five years through 2025 to €622.9 billion, including an anticipated rise of 0.8% in 2025. Despite weak revenue growth, profitability remains strong, with the average industry profit margin standing at an estimated 18.9% in 2025. Central banks across Europe adopted aggressive monetary policy in the two years through 2023 in an effort to curb spiralling inflation. This ratcheted up borrowing costs and hit the real estate sector. In the residential property market, mortgage rates picked up and hit housing transaction levels. However, the level of mortgage rate hikes has varied across Europe, with the UK experiencing the largest rise, meaning the dent to UK real estate demand was more pronounced. Commercial real estate has also struggled due to inflationary pressures, supply chain disruptions and rising rates. Alongside this, the market’s stock of office space isn’t able to satisfy business demand, with companies placing a greater emphasis on high-quality space and environmental impact. Properties in many areas haven't been suitable due to their lack of green credentials. Nevertheless, things are looking up, as interest rates have been falling across Europe over the two years through 2025, reducing borrowing costs and boosting the number of property transactions, which is aiding revenue growth for estate agents. Revenue is slated to grow at a compound annual rate of 4.5% over the five years through 2030 to €777.6 billion. Economic conditions are set to improve in the short term, which will boost consumer and business confidence, ramping up the number of property transactions in both the residential and commercial real estate markets. However, estate agents may look to adjust their offerings to align with the data centre boom to soak up the demand from this market, while also adhering to sustainability commitments.

Bulgaria - Housing cost overburden rate: Tenant, rent at market price was 27.80% 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: Tenant, rent at market price - last updated from the EUROSTAT on July of 2025. Historically, Bulgaria - Housing cost overburden rate: Tenant, rent at market price reached a record high of 51.00% in December of 2017 and a record low of 27.80% in December of 2024.

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, the average apartment rent in Bulgaria ranged between ***** and **** euros per square meter. The province with the highest rents was Sofia City, where renting an apartment cost on average **** euros per square meter. Varna, Burgas, and Blagoevgrad had the second-highest rental price, at ***** euros per square meter. In Bulgaria, less than ** 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.

The price of residential real estate increased in most countries in the European Union in the fourth quarter of 2023. Prices rose the most in Poland, Bulgaria, and Croatia. Nevertheless, many of the largest markets saw prices decline. In Germany, the house price index fell by *** percent from the same period a year ago. According to the aggregate house price index for the EU, prices mostly stabilized after a brief drop in the second half of 2022.

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 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.

Graph and download economic data for Harmonized Index of Consumer Prices: Actual Rentals for Housing for Bulgaria (CP0410BGM086NEST) from Dec 1996 to Jun 2025 about Bulgaria, harmonized, rent, CPI, housing, price index, indexes, and price.

In Bulgaria, commercial real estate yields are fairly high in comparison to the rest of Europe. For example, industrial yields in Bulgaria are more than double that in the United Kingdom (UK). Yields measure the expected future income on an investment. Yields are especially important for those looking to invest in commercial real estate, as capital growth rates tend not to be as high as in the residential market.

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 - Severe housing deprivation rate: Tenant, rent at market price was 18.30% in December of 2023, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Bulgaria - Severe housing deprivation rate: Tenant, rent at market price - last updated from the EUROSTAT on July of 2025. Historically, Bulgaria - Severe housing deprivation rate: Tenant, rent at market price reached a record high of 24.40% in December of 2007 and a record low of 1.60% in December of 2019.