Nevena Stoyanova: A Strong Start to 2026 for the Luxury Real Estate Market
In an environment shaped by economic dynamics and evolving buyer expectations, the high-end real estate segment in Bulgaria continues to stand out as one of the most resilient and active parts of the market.
How is the luxury property sector developing, which locations and property types are most sought after, and what are the expectations for prices in the coming years?
Nevena Stoyanova, Managing Director of BARNES Bulgaria, shares her insights on these key topics in an interview for imoti.net.
How would you describe 2025 for Bulgaria’s luxury real estate market?
The year 2025 further confirmed the long-term upward cycle of the market. Over the past 15 years, property prices in Bulgaria have increased by more than 130%, and 2025 was another year in which this growth was supported by solid data and real transactions. At the end of 2024, Bulgaria ranked first in the EU in terms of annual residential price growth. Combined with the expected accession to the Eurozone and stable mortgage conditions, this became the main driving force of the market throughout 2025.
According to current Eurostat data, Bulgaria ranks second in the EU for annual price growth at approximately 15.5%. Final statistics will be published in early 2026, but the trend is already clearly established.
The luxury segment does not merely follow this growth – it gives it structure. The market has become more mature, more selective, and significantly more demanding. Buyers are making increasingly conscious choices in favour of quality, architecture, and long-term value. This reflects a real transformation, marked by the emergence of projects comparable to leading international developments. Architecture, engineering, and materials have reached a level that has reshaped consumption culture. In this context, 2025 can be defined as the most active year for the luxury segment to date.
What is the market situation at the beginning of 2026?
The year began with a record number of enquiries, and this dynamic has continued. The market entered 2026 with strong momentum, clearly defined demand, and high activity, particularly in the luxury segment.
What are your expectations for 2026?
I expect continued growth. Inflation remains a key factor, while established high-end investors are currently postponing sales until later stages of construction, once there is full clarity on final costs.
These are investors with strong reputations and long-term vision, who do not compromise product quality through early or undervalued sales. This approach supports both price stability and quality across the segment.
Which factors will have the strongest influence on demand?
The premium buyer has a clearly defined taste. Natural light, panoramic views, generous space, distinctive architecture, high ceilings, premium materials, and an impeccable sense of comfort are essential. Parking is a mandatory requirement – typically at least two, and often three parking spaces.
At the core of demand lies the pursuit of a higher standard of living. For investors and collectors, luxury real estate remains one of the most resilient asset classes during periods of economic uncertainty.
What is the profile of today’s luxury buyer?
There is no longer a clear age profile. Buyers include both younger professionals with high incomes and access to financing, as well as clients over the age of 50. These are individuals in senior positions or business owners, active in sectors such as medicine, pharmaceuticals, technology, manufacturing, and defence. The primary buyer remains Bulgarian, very often with an international lifestyle and career.
Which locations are currently the most sought after?
Sofia continues to be stable and highly active. Outside the capital, Plovdiv and Bansko stand out clearly. Plovdiv offers a balanced urban environment with lower stress levels and modern residential developments. Bansko has established itself as a year-round destination with limited new supply, which naturally leads to price growth.
The Black Sea coast is also seeing activity in the luxury segment; however, demand continues to exceed the supply of truly high-end properties.
Is there a shortage of quality properties?
Yes, and it is becoming increasingly evident – particularly along the Black Sea coast and in Bansko. In Sofia, there is growing interest in homes with panoramic views and a “living above the city” feel, raising important questions about vertical urban development and the integration of more green spaces.
What are the defining characteristics of a luxury property today?
Generous space, distinctive architecture, sustainable materials, panoramic views, sufficient parking, and a high-quality living environment. Buyers are increasingly choosing gated communities for their security and amenities, especially families with children. Proximity to reputable educational institutions has also become a key factor, including for international clients.
What share of purchases are investment-driven?
The share of investment purchases in the high-end segment has increased steadily over the years. Clients clearly understand that a well-selected luxury property preserves its value, remains liquid, and consistently attracts market interest.
How do global economic conditions and geopolitics affect buyer behaviour?
For Bulgarian buyers, periods of uncertainty traditionally lead to a preference for tangible assets. Historical experience with inflationary crises, combined with recent global disruptions, has reinforced this behaviour. In recent years, interest in properties outside Europe has also grown, serving as a form of diversification and a personal “plan B.”
Which international markets are most attractive to clients today?
Greece and Dubai remain among the leading destinations. Thanks to the international BARNES network and our long-standing experience in global real estate markets, we are able to advise clients at an international level and offer well-informed, long-term, sustainable investment solutions.
