According to Professor Miroslav Vladimirova, an economist and member of the Board of ERA Bulgaria, the year 2024 was different from previous years, especially from the period after the pandemic. Property prices were rising by about 16% per year, which was unusual given the slowdown in inflation.He also noted that the number of real estate transactions has increased, and 2024 could be a record year for home sales (there will be about 95,000).
A key topic in discussions related to the Bulgarian real estate market is the potential introduction of the euro.Vladimirov acknowledged that Bulgaria's entry into the eurozone may lead to a temporary increase in housing demand, but he does not believe that this will lead to a long-term increase in prices.The economist noted that housing in Bulgaria is mainly purchased for living, and although changes in the exchange rate may have some short-term impact, they are unlikely to be the main reason for a steady increase in prices.
Vladimirov also expressed concern about housing prices in Bulgaria, saying that for the first time in more than a decade, there were signs of a revaluation in the market.This may mean that current prices may prove unstable in the long term, and potential buyers should be careful when making investment decisions.This trend towards housing revaluation is a marked shift after several years of relatively stable prices.
Source: Novinite
