The residential real estate market in Sofia in the second quarter of 2024 remains stable and active. Despite forecasts for a possible lull, the trends show a rise in prices and a significant increase in demand. This is shown by an analysis of one of the largest real estate agencies in Bulgaria, quoted by Bloomberg TV.
According to NSI data, in the first quarter of 2024, a record growth of 16% was observed in housing prices in the country. Compared to the fourth quarter of 2023, the rise is of about 7%. The reasons for the price increase are related to increased demand. After a certain withdrawal of buyers from the market in anticipation of a drop in prices, they are now actively looking for properties again, worried about possible price rise after the introduction of the euro in Bulgaria. In addition, rising wages and low mortgage rates are also contributing to increased demand.
Two-room and three-room apartments are most wanted. Average prices vary between 1,800 and 2,000 euros per square meter, reaching up to 3,000 euros per square meter in the center of the capital city.
The draft budget for 2025 proposes a deficit of 3%. The mid-term budgetary forecast targets a deficit of 3% up until 2028. The government debt is to increase to EUR 41.57 billion by 2028. The size of pension insurance is to be preserved in..
In 2025, the National Health Insurance Fund will be able to spend 1.2 billion leva (EUR 613 million) more on insured individuals, the draft budget of its Supervisory Board envisages. The health insurance contribution remains 8% of the insurable..
Bulgaria will meet the final criterion of price stability for entry into the eurozone by January. After that, politicians are in charge, Bulgarian National Bank Governor Dimitar Radev has told BNT. "Politicians must try to get the..
Partly Cloudy
Mostly Cloudy
Cloudy