Graph and download economic data for Residential Property Prices for Bulgaria (QBGN628BIS) from Q1 1998 to Q2 2025 about Bulgaria, residential, HPI, housing, price index, indexes, and price.

Housing Index in Bulgaria increased to 246.65 points in the second quarter of 2025 from 237.55 points in the first quarter of 2025. 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.

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.

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.

Discover the growth potential of the Bulgarian Facility Management market. This comprehensive analysis reveals key trends, drivers, restraints, and market segmentation from 2019-2033, projecting a steady CAGR of 3.40%. Learn about leading companies and investment opportunities. Recent developments include: January 2021 - First Facility Bulgaria EOOD takes over facility management for Synergy Tower, Sofia. Synergy Tower is a multifunctional office building with a TBA of approx. 50 000 sq.m. It is a sustainable next-generation green building that meets the latest technological and architectural trends and follows all LEED certifications requirements.. Key drivers for this market are: Growing Trend Toward Commoditization of FM, Increasing Investments on Infrastructure Developments. Potential restraints include: Growing Trend Toward Commoditization of FM, Increasing Investments on Infrastructure Developments. Notable trends are: Maintenance of Building Installations Segment to hold significant share in the market.

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.

The price of residential real estate increased in most countries in the Europ in the first quarter of 2025. Prices rose the most in Turkey, Portugal, and Bulgaria. Conversely, Finland was the only country where house prices declined, falling by *** percent over the same quarter in 2024. According to the aggregate house price index for the EU, prices mostly stabilized after a brief drop in the second half of 2022.

In the second quarter of 2025, North Macedonia, Portugal, and Bulgaria registered the highest house price increase in real terms (adjusted for inflation). In North Macedonia, 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 Hong Kong recording the biggest decline, at ***** percent. That has to do with a broader trend of a slowing global housing market.

Bulgaria Labour Cost per Hour Worked: NACE 2008: Public Sector: Real Estate Activities data was reported at 12.840 BGN in 2023. This records an increase from the previous number of 11.210 BGN for 2022. Bulgaria Labour Cost per Hour Worked: NACE 2008: Public Sector: Real Estate Activities data is updated yearly, averaging 6.795 BGN from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 12.840 BGN in 2023 and a record low of 5.080 BGN in 2008. Bulgaria Labour Cost per Hour Worked: NACE 2008: Public Sector: Real Estate Activities data remains active status in CEIC and is reported by National Statistical Institute. The data is categorized under Global Database’s Bulgaria – Table BG.G018: Labour Cost per Hour Worked: NACE 2008.

Building contractors and developers depend on various socio-economic factors, including property values, underlying sentiment in the housing market, the degree of optimism among downstream businesses and credit conditions. All of these drivers typically track in line with economic sentiment, with recent economic shocks spurring a difficult period for building contractors and developers. Nonetheless, the enduring need for building services, particularly to tackle housing shortages across the continent, ensures a strong foundation of work. Revenue is forecast to grow at a compound annual rate of 2.3% to reach €1.3 trillion over the five years through 2025. Operational and supply chain disruption caused by the pandemic reversed the fortunes of building contractors and developers in 2020, as on-site activity tumbled and downstream clients either cancelled, froze or scaled back investment plans. Aided by the release of pent-up demand and supportive government policy, building construction output rebounded in 2021. Excess demand for key raw materials led to extended lead times during this period, while input costs recorded a further surge as a result of the effects of rapidly climbing energy prices following Russia’s invasion of Ukraine. Soaring construction costs and the impact of interest rate hikes on both the housing market and investor sentiment led to a renewed slowdown in building construction activity across the continent. However, falling inflation and the start of an interest rate cutting cycle have spurred signs of a recovery in new work volumes, supporting anticipated revenue growth of 2.3% in 2025. Revenue is forecast to increase at a compound annual rate of 6.7% to €1.7 trillion over the five years through 2030. Activity is set to remain sluggish in the medium term, as weak economic growth and uncertainty surrounding the impact of the volatile global tariff environment on inflation and borrowing costs continue to weigh on investor sentiment. Contractors and developers will increasingly rely on public sector support, including measures to boost the supply of new housing, as countries seek to tackle severe housing shortages. Meanwhile, the introduction of more stringent sustainability requirements will drive demand for energy retrofits.

Revenue is forecast to contract at a compound annual rate of 2% over the five years through 2025 to €44.7 billion. This is mostly the result of COVID-19 restrictions dampening downstream demand in 2020. While 2021 saw some recovery, poor economic conditions since 2022 have stifled any significant recovery, continuing to weigh on the industry’s revenue performance. In 2025, revenue is slated to dip by 1.1% owing to the cooling housing market, despite significant investment in civil engineering projects across Europe. Despite public funding and support for new residential properties, a weaker housing market has limited stone and aggregates demand from property developers. This is primarily the result of persistently high interest rates, inhibiting borrowing and investing. Another key factor is the decline in cement and concrete manufacturing (two key downstream markets) in Europe since 2021, according to CEMBUREAU, owing to construction companies moving towards lower embedded CO2 construction materials. Still, revenue has been propped up by growing demand from non-construction markets, like glass manufacturers, fertiliser manufacturers and other industrial and building-environment solutions applications (like sand and gravel being used to prevent coastline erosion) Over the five years through 2030, revenue is forecast to grow at a compound annual rate of 2.5%, to €50.7 billion. Economic conditions are likely to remain fairly weak in the short to medium term as inflation remains above the universal 2% target. The elevated rate of inflation will ensure central banks delay any reductions in the base rate, keeping the cost of borrowing high for would-be home buyers. Weaker demand for houses will contribute to weak price performance and disincentivise developers from increasing production, weighing on activity levels in the construction sector. However, pockets of opportunity will remain in alternative uses of stone, clay, gravel and sand.

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 16 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 12 percent. That has to do with a broader trend of a slowing global housing market.

In 2024, France had the largest housing stock among selected European countries with a total of **** million housing units. Other countries heading the ranking were the United Kingdom (UK) or Poland. This was not surprising, considering that the top countries have some of the largest population in Europe. In terms of the number of housing units per 1,000 citizens, however, the top three countries were Bulgaria, France and Belgium. Which European countries build the most housing? Supply of new housing varies greatly in different countries. In 2024, Turkey and Ireland delivered the highest number of housing completions, but when it comes to construction starts, Ireland topped the ranking, leaving Turkey and Israel in second and third place, respectively. How did house prices change in 2024? Demand for housing remained strong in 2024, causing house prices to grow in almost all European countries. The United Kingdom was one of the few countries where home prices declined - a result of the soaring interest rates and cost of living crisis. Poland was at the other side of the spectrum, with house prices surging by more than ** percent.

In 2024, the average mortgage rates in European countries varied from *** percent in Bulgaria to over nine percent in Hungary. The mortgage rate for a home purchase is decided depending on the individual situation of the homebuyer, their credit history, and income, but they also follow macro determinants including the base lending rate, inflation, economic growth, and the health of the housing market. Starts, completions and prices The supply of new housing varies in different countries in Europe. In 2023, the number of new housing units completed per 1,000 citizens was between *** and seven, with this number varying greatly in different countries. Ireland and Poland were among the countries with most completed housing units. When it comes to housing starts, Ireland tops the ranking. The average transaction price of a new dwelling in 2023 ranged anywhere from roughly ***** euros per square meter to under ***** euros per square meter. Housing stock As the most populous country in Europe, Germany has the largest housing stock. Comparing the number of housing units per 1,000 citizens is an easy way to identify housing shortages. In Greece and the UK, for example, the number of dwellings per 1,000 citizens measured less than ***, compared to Bulgaria and Spain, where it was around ***.

In 2024, Sofia, Bulgaria, had the highest flexible office space as a percentage of office real estate stock, at *** percent. London, the most expensive European office market to rent a private workspace, had *** percent of the office inventory as flexible offices. Flexible office space, an umbrella term that includes coworking spaces, shared office space, and managed offices, refers to commercial office space that allows short-term leases to individuals, freelancers, small and medium enterprises, and other professionals. In contrast to traditional offices, flexible offices provide equipped and serviced office premises without long-term rent commitment. Multiple factors influence the increasing demand for flexible office space, such as economic growth, job creation, innovation, and property market fundamentals.