Between July and September 2026, 45,312 property sales were registered across Bulgaria. That is 22.1% fewer than in the same period last year (58,184) and, by Investor.bg's count, the weakest third quarter in at least 21 years. It is the first time since 2010 that summer-quarter sales have fallen below 50,000. The Registry Agency figures, released at the start of October, give the first national picture of the market since the switch to the euro.
Here is what the numbers say, where the drop is steepest, and how to read them if you are buying or selling this autumn.
The annual decline has deepened quarter by quarter: roughly −15.5% in the first quarter, −17.9% in the second and −22.1% in the third.
Mostly, it is the base. Summer 2025 was the peak of the pre-euro rush, when many people hurried to buy, transfer property within the family or move lev savings into bricks and mortar before the currency changed. Any comparison with that period will look dramatic.
The comparison with spring is more telling. Nationally, the number of deals barely moved from the second quarter (−1.4%). In other words, the market is not in free fall; it is settling at a lower level. That level is still about 18% below summer 2019. Financial analyst Max Bakliyan of Tavex estimates the market is roughly 15% below its 2023 and 2024 levels.
| City / area | Sales Q3 2026 | Change y/y |
|---|---|---|
| Sofia | 7,282 | −21.2% |
| Varna | 2,853 | −26.3% |
| Burgas | 2,047 | −14.3% |
| Ruse | 1,064 | −13.1% |
| Stara Zagora | 880 | −27.8% |
Sofia lost more than a fifth of its deals over the year. The drop from spring was sharper than the national average, from 8,874 sales in the second quarter to 7,282, or about −18%.
Varna fell to its lowest level since 2015. Burgas held up better than the other major markets, but activity there is also below 2023 levels.
We covered Plovdiv in detail in our piece of 2 October. One clarification: the national release puts Plovdiv at 3,356 sales and an annual decline of 23.9%, smaller than the 31.1% we calculated at the time from the local registry office's figures. The 2026 sales count in the two sources is practically identical (3,354 against 3,356); the difference lies in the third-quarter 2025 figure each one compares against. Use the national release as the reference.
The biggest falls came in markets that in recent years relied on second-home buyers and investors: Nesebar −37%, Razlog −30.4%, Balchik −28.9%. Only a handful of smaller markets grew against the trend, among them Blagoevgrad (+19.8%) and Gotse Delchev (+11.2%).
Once again, the most telling signal is in lending. While sales fell by more than 22%, registered mortgages nationally were down just 0.7% on the year. The city picture varies: Sofia −7.6%, Varna −9.7%, Burgas −2.6%, and Ruse actually +24.2%.
That means the share of financed deals is rising. By Max Bakliyan's calculation, the ratio has gone from about 29% in Q3 2025 to about 37% now. (The ratio is indicative: one property can carry more than one mortgage, and some mortgages secure refinancing.)
Our reading: it is mainly cash buyers who have stepped back, the people who last year were rushing to put their lev savings to work. Buyers purchasing a home for themselves with a mortgage are still there. That is why the market has calmed down rather than stalled.
Fewer deals do not automatically mean lower prices. The latest NSI data, for the second quarter, showed house prices up 15.5% year on year even as sales fell. Third-quarter figures are due in December.
Credit also remains affordable for now: the average rate on new housing loans in August was about 2.4%, which we looked at in detail in our piece on the bank windfall tax. The next markers are the ECB meeting on 29 October and the BNB's September interest rate statistics at the end of the month.
If you are buying: this is no longer a seller's market. You have more time to view, run legal checks and negotiate, especially on properties that have been listed for months. Go into negotiations with a bank pre-approval: in a market where close to 4 in 10 deals involve a mortgage, it is a strong card to hold.
If you are selling: there are fewer buyers and they are more careful. Realistically priced homes with their paperwork in order are still selling; overpriced ones are sitting. If you have had no serious interest after two or three months, review the price before you find yourself chasing the market down.
If you are investing, especially in resort property: that is where the cooling is strongest. Model your returns on realistic occupancy and allow a longer horizon for any resale.
Based on Registry Agency data for Q3 2026, released in early October 2026, as reported by Investor.bg (2 Oct 2026), Economic.bg (3 Oct 2026), Silna Varna (4 Oct 2026) and Blitz.bg (3 Oct 2026), and commentary by Max Bakliyan quoted by Standart and Iskra.bg. The figures cover all types of property, not just homes, and are indicative. Verified as of 5 October 2026.
If you are thinking of buying or selling and want to see what these numbers mean for a specific property and neighbourhood, give us a call or visit our office — we will go through it together.
