VIG Market Reports
The quarterly & annual read on Bulgarian real estate.
These are the same reports VIG's team produces for internal underwriting — macro, property, policy, and outlook. Published outside the firm for investors, prospects, and anyone serious about the Bulgarian market.
Sofia enters 2026 into a narrower price band
+2.1% Sofia residential QoQ
The first quarter of 2026 opened with interest rates steady, Sofia prices continuing to grind higher but with spread narrowing between districts. Foreign capital stepped back modestly, domestic capital stepped in. VIG underwrote two new projects in the period.
Read the full reportThe year Sofia decoupled from the pan-European slowdown
+8.2% Sofia price, +3.4% BG GDP
While most mature European property markets posted flat or declining nominal prices, Sofia delivered mid-single-digit to low-double-digit growth depending on district. Bulgaria closed 2025 as one of the faster-growing EU economies. The full-year recap.
Read the full reportEurozone accession signal strengthens, year-end price firm
€2.1B FDI rolling 12m
Q4 closed with Bulgaria meeting the Maastricht convergence criteria for a third consecutive reading. Sofia Class-A residential inventory remained thin. Construction cost inflation decelerated from Q3. Permits issued up 11% YoY.
Read the full reportMid-year: supply expanding, prime pricing holding
Permits +14% YoY
Summer 2025 brought a notable uptick in new housing starts across Sofia outer districts, particularly Lyulin and Druzhba. Prime-location pricing held firm. Rental yields compressed marginally as prices outran rents. The Q3 read.
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