In August we published a report on rents based on Eurostat's first-quarter data. At the time Bulgaria was second in the EU, with growth of 10.5%. This report updates that one. Data now run to September 2026, and the picture has changed.
In short: rents are still rising, but noticeably more slowly. And for the first time in more than a year, they are rising only a little faster than prices in general.
The figures are Eurostat's (the harmonised index of consumer prices, component "actual rentals for housing"), updated on 16 October 2026.
Annual rent growth in Bulgaria by month:
| Month | Change on a year earlier |
|---|---|
| December 2025 | 11.9% (peak) |
| March 2026 | 10.2% |
| June 2026 | 10.1% |
| July 2026 | 8.5% |
| August 2026 | 7.1% |
| September 2026 | 7.6% |
Averaged by quarter (our arithmetic), that gives 10.5% for the first, 9.9% for the second and 7.7% for the third quarter of 2026. The second-quarter figure matches the one Eurostat and the press quoted in early October. Eurostat's official third-quarter release is not due until 11 January 2027, but the monthly data are already out.
Another way to see the slowdown is cumulative growth since the start of the year. From December 2025 to September 2026 rents rose by about 6.5%. Over the same nine months a year earlier the increase was about 10.8% (our calculation from Eurostat's index).
In March 2026 only Croatia was ahead of Bulgaria on rent growth. In September the EU ranking looks like this:
| Country | Rent growth, September 2026 |
|---|---|
| Romania | 39.5% |
| Slovenia | 11.3% |
| Lithuania | 10.0% |
| Bulgaria | 7.6% |
| EU (average) | 2.9% |
| Euro area | 2.6% |
Two caveats. The jumps in Romania and (until the summer) Croatia come mainly from one-off changes that enter the annual comparison and then drop out of it. That is why Croatia fell from about 40% to 3.5% in just two months. Bulgaria itself is still running at more than 2.5 times the EU average.
The main explanation is the base. In the summer of 2025 rents here jumped sharply: 1.8% in July alone and another 1.8% in August. This year the same months brought 0.3% and 0.5%. When last year's strong months drop out of the comparison, the annual rate falls.
The largest monthly rise in 2026 came in January (+2.3%). That is the month when many leases are renewed and indexed, and this year it also coincided with the switch to the euro. Since January, monthly increases have been moderate, between 0.3% and 0.7%.
What we see in our own work points the same way: tenants compare more and take longer to decide. Landlords who asked too much at the start of the season are waiting longer for a tenant. (That is an observation from our practice, not a statistic.)
This is the number we think matters most. In the first quarter, overall inflation (HICP) in Bulgaria was between 2.1% and 2.8%. Rents were rising roughly 8 points faster than prices generally.
In September overall inflation is 5.6% and rents are up 7.6%. The gap has narrowed to about 2 points. In other words, rents are now mostly keeping pace with general price growth rather than outrunning it as they did in 2025.
House prices are rising faster than rents. According to Eurostat and the NSI, prices in the second quarter of 2026 were 15.5% higher than a year earlier (details in our house price report). When the price of a property rises by 15% and its rent by 8–10%, the gross yield on a new buy-to-let purchase falls. The arithmetic is simple, but worth doing for the specific property. The method is in our guide to rental yield.
Eurostat's index covers all rent actually paid, including under older leases that change rarely. It is not an average of advertised asking rents for new lets. In particular markets, such as new leases in central Sofia, the movement can differ. These data show the direction of the market, not the price of a particular flat.
For landlords: the period when every increase went through unquestioned is ending. At renewal, a rise in line with inflation is usually wiser than risking an empty month. A single vacant month wipes out the whole year's 7–8% increase.
For tenants: the pressure is easing but has not gone away. Rents are still rising faster than the EU average and slightly faster than prices overall. There is room to negotiate on term, indexation and deposit, especially for a longer lease.
For buy-to-let buyers: do not build 2025-style rent growth into your numbers. The more conservative assumption is that rents track inflation.
Rents in Bulgaria were up 7.6% a year in September 2026, against 11.9% at the end of 2025. The country is fourth in the EU, and real growth above inflation has narrowed to about 2 points. The market is not falling; it is calming down.
If you let a property and want to set a realistic rent, or you are looking to rent and want to know where there is room to negotiate, call us or visit our office. We will look at the specific neighbourhood together.
Eurostat data (HICP, rents component), updated on 16 October 2026; quarterly averages and cumulative growth are our own calculations. Indicators are indicative and subject to revision.
