Bulgaria is witnessing a continuous decline in residential real estate transactions for the fourth consecutive quarter. According to data from the Registry Agency, property purchases across the country have decreased by 15% during Q2 2023, reaching  54,371 transactions in total.

The Bulgarian residential market was growing at a slower pace in the first quarter of 2023, compared to the same period last year. On an annual basis, the increase was 9.5%, and 1.6% on a monthly basis. The data is part of the annual House Market Index by Eurostat on residential property prices and rents in the European Union.

According to preliminary data from the National Statistical Institute, the number of newly built residential buildings in the first quarter of 2023 was 1 289, and the number of newly built dwellings was 4,427.