The downturn is particularly noticeable against the backdrop of the previous boom: for three years, prices for Bulgarian property rose by more than 15 per cent annually. Moreover, the most rapid price rise occurred in the period leading up to the country’s transition to the euro in January 2026. Following the currency changeover, the market effectively came to a standstill, notes Prian.
According to market participants, around 70 per cent of transactions are now taking place with discounts: buyers are haggling more actively, whilst sellers are more often agreeing to concessions. Even so, in the second quarter of 2026, property was still almost 15 per cent more expensive than a year earlier. Over the next six months, the market may see prices stabilise, but there is no reason to expect a widespread fall in property prices just yet.
The situation is particularly difficult on the Black Sea coast. Prian’s experts note that the market has virtually ground to a halt in recent months. For some estate agents, the number of transactions has halved, whilst for others it has fallen by 80 per cent.
There is interest amongst buyers, but some are waiting for the drone attacks in the Black Sea to end. Crucially, the expectations of most sellers have not been met. They are not yet willing to lower their prices. Many owners base their prices on those set by developers, although new homes and flats that are 15–20 years old are far from the same thing. At the same time, the developers themselves are not selling particularly well at the moment.
The structure of the supply creates an additional complication. There are many flats on the market that have been inherited by their owners. Such sellers may be willing to part with their property more quickly, but they often set their price based on online adverts rather than actual transaction values. Some, moreover, fail to maintain their property and accumulate debts, which will need to be taken into account at the time of sale.
Despite the slowdown in demand, the choice of properties remains limited for the time being. Those planning to buy are advised to research the market first, rather than rushing into a deal. According to Prian’s assessment, sellers may become more flexible in two or three months’ time.
This story was translated with the assistance of artificial intelligence.
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