Bulgaria’s Property Market Cools as Speculative Buyers Pull Back

Borislav Gostev, General Director of Super Credit, on ImoTiTe, bloombergtv.bg, April 12, 2026.

Bulgaria’s property market is showing signs of cooling, mainly due to lower activity among speculative buyers, budget-constrained households, and professionals from the IT sector. According to Borislav Gostev, General Director of Super Credit, the sharpest slowdown is among so-called “flippers” — investors who buy homes in the early stages of construction and resell them for a quick profit. As returns become less attractive, this group is becoming less active.

In the first quarter of 2026, property transactions across Bulgaria fell by 15% year-on-year, from 45,144 to 38,154. Sofia recorded a 12% decline, while Varna and Burgas saw even steeper drops. Plovdiv remained relatively stable, with a decrease of just 2%.

Demand is also weakening among buyers with limited budgets, as rising housing prices and higher down-payment requirements make purchases more difficult. At the same time, activity from the IT and call center sectors continues to decline. Many of these buyers already purchased homes in previous years, while uncertainty in the job market is also affecting confidence.

Broader economic concerns are adding pressure to the market. Ongoing geopolitical tensions, rising energy costs, and inflation are influencing buyer behavior. In addition, factory closures and business slowdowns in different parts of the country are making households more cautious about taking on long-term financial commitments.

At the same time, mortgage lending remains strong in value, even if the number of deals is lower. This suggests that while fewer transactions are taking place, the average loan size is growing. According to Gostev, Sofia’s market is not entering a serious downturn, but rather returning to a more normal pace after an exceptionally strong 2025.

The published article is a translation/revision of the original article or material of the relevant quoted media. According to the Copyright Act of the Republic of Bulgaria (art. 9), the copyright on the translation or revised text belongs to the person who did it without prejudice to the rights of the author of the original text. If you wish to use the information in this article, please contact the author to obtain permission.