Off-plan flats in Sofia: Only 3 in 10 projects still pay off, investor says

Sofia's housing market is slowing, but not every property is losing value, according to real estate developer and investor Ivo Dimovski, speaking on the program "Kvadratni metri," as reported by Darik Business Review on Oct. 26. In the past, about 9 in 10 off-plan projects were good for investors, he said, but now only about 3 in 10 are. According to him, the number of property deals fell from about 94,000 in 2024 to about 92,000 in 2025.

Selling a flat in the 150,000 to 250,000 euro range in Sofia used to take 30 to 40 days and can now take 60 to 70 days, Dimovski said. Sellers of realistically priced properties have about 5% room to negotiate, he said, while bigger discounts mainly hit overpriced listings. Renovated and furnished flats can sell for 5,000 to 15,000 euros more, depending on quality and location.

Ground-floor flats in older buildings may be priced 10% to 15% below comparable ones on higher floors, but buyers should check for damp and waterproofing, the investor said. Studios and small two-bedroom flats under 200,000 euros remain the easiest to sell, he said, naming districts such as Ovcha Kupel, Mladost, Druzhba 2, Krastova Vada and Malinova Dolina. These are the assessments of a single market participant.