The last call to invest in real estate?

After more than 11 years, we return to our forecast about Bulgaria.

The article was originally published in May 2015. In August 2026, it was comprehensively updated by ILS POLAND GROUP in connection with changes on the Bulgarian real estate market, Bulgaria`s entry into the euro area and the publication of new Eurostat data.

The real estate market in Bulgaria today looks completely different than it did a dozen or so years ago. Prices have increased, many seaside towns have developed, the standard of offered properties has changed, and since 1 January 2026, Bulgaria has been part of the euro area [European Central Bank].

At the same time, the latest Eurostat data show that in the first quarter of 2026, residential property prices in Bulgaria increased by 14.8% compared to the same period of the previous year [Eurostat, 2 July 2026]. Only Portugal recorded higher growth in the European Union. On a quarterly basis, the increase was 6.2% and was the highest in the entire EU [Eurostat, 2 July 2026].

Does this mean that now is the "last call" to buy property in Bulgaria?

Not in the sense in which similar slogans are often used in advertising.

High price growth is not in itself an argument for buying. It may indicate high market interest and dynamic changes, but at the same time it requires an even more careful assessment of the price, location and specific property.

And that is exactly why it is worth returning to the article we published in May 2015.

What did we write in 2015?

The original version of this material was created at a time when the real estate market in Bulgaria was at a completely different stage of development.

At that time, we wrote about low prices and the opportunities offered by buying property abroad. The title itself – "The last call to invest in real estate" – reflected well the way we looked at the prospects of this market over 11 years ago.

Today, however, we do not want to simply repeat the arguments from 2015.

A much more interesting question is:

what actually happened on the market over more than 11 years?

The market has verified many old assumptions

Bulgaria remains one of the interesting real estate markets in the European Union, but it is no longer the same market we observed in 2015.

Tourist infrastructure has developed, buyers` expectations have changed, new investments and apartment complexes have been built, and prices in many locations are now significantly higher than in the early years of our activity on this market.

The latest Eurostat data show that the process of change is still ongoing.

In the first quarter of 2026, residential property prices in Bulgaria increased by 14.8% year-on-year [Eurostat, 2 July 2026], and by 6.2% compared to the previous quarter [Eurostat, 2 July 2026].

This is a very high rate of growth.

But it is precisely at this point that an important caveat must be made.

Market growth does not mean that every property is a good investment

Does a 14.8% price increase mean that every property in Bulgaria is a good investment today?

Definitely not.

Average statistical data show the direction of market changes, but they will not tell us whether a specific apartment in Sunny Beach, Sveti Vlas, Nessebar, Ravda, Sozopol or another town has been offered at the right price.

They will also not tell us what the condition of the building is, what the maintenance costs are, what the legal situation of the property and its surroundings is, or what its potential may be for future resale or rental.

Therefore, there is no single, uniform real estate market in Bulgaria.

There are different regions, towns, complexes, buildings and price segments. Even two properties located a few hundred metres apart may represent completely different value for the buyer.

On the real estate market, it is not enough to be right about the country. You also need to be right about the specific property.

Is it still worth buying in Bulgaria after such increases?

This depends primarily on the purpose of the purchase.

An apartment intended mainly for personal holidays should be assessed differently, a property for year-round living differently, and a purchase made with a view to rental or future resale differently again.

Therefore, we do not believe that the mere information about a 14.8% price increase should prompt anyone to make a quick decision.

Quite the opposite.

The more mature the market becomes, the more important the quality of the choice becomes.

The purchase price remains important, but an increasing role is also played by location, building standard, infrastructure, the level of maintenance fees, legal status and the real attractiveness of the property on the secondary market.

What has changed with Bulgaria`s entry into the euro area?

Since 1 January 2026, the official currency of Bulgaria has been the euro, which replaced the lev at the fixed exchange rate of 1 EUR = 1.95583 BGN [European Central Bank].

For people buying property from other euro area countries, this primarily means simpler settlements and no need to convert the transaction price between euro and lev.

However, the adoption of the euro alone is not a guarantee of further increases in real estate prices.

The market continues to be influenced by, among other things, supply and demand, the economic situation, the availability of financing, the development of individual regions and the interest of domestic and foreign buyers.

Therefore, entry into the euro area should also be treated as an element of a broader analysis, not as a standalone argument for purchase.

What does "the last call" mean today?

After more than 11 years, we would change the meaning of the title of this article.

Today`s "last call" is not a call to buy under time pressure.

It is rather a reminder that the stage of the market where it was enough to find a very cheap property in Bulgaria is largely a thing of the past.

The market has become more mature, and buyers have access to much more information and a much wider choice.

Therefore, today, the advantage is given not by haste, but by information, comparison and proper selection of offers.

We have been observing this market closely since 2008

ILS POLAND GROUP has been operating on the Bulgarian real estate market since 2008.

This means that when we published the original version of this article in May 2015, we already had several years of practical experience on the Bulgarian market. Today, we can look at that text from the perspective of another 11 years.

During this time, we observed periods of very low prices, the dynamic expansion of seaside resorts, changing interest from foreign buyers and the subsequent stages of market maturation.

Therefore, by updating the 2015 article today, we do not want to prove that every old forecast was accurate.

What is much more important for us is to show how much the market has changed and how the buyer`s approach should change along with it.

Over a dozen years ago, the most important argument was often the low price.

Today we would say differently:

a good property is not necessarily the cheapest one. It is a property properly chosen in relation to the purpose of purchase, price, location, costs and buyer`s expectations.

Before buying, it is worth checking more than just the price

If you are considering buying a property in Bulgaria, before making a decision it is worth learning not only about the current offers, but also about the principles of how this market works.

Therefore, we have prepared separate materials in which we discuss in detail:

• why it is worth considering investing in real estate in Bulgaria,
• procedures and actual costs of purchasing property in Bulgaria,
• the possibility of buying property remotely,
• changes on the market after Bulgaria`s entry into the euro area in 2026.

And if, after analysing the market, you would like to move on to specific properties, we also invite you to browse current property offers in Bulgaria presented by ILS POLAND GROUP.

ILS POLAND GROUP Team