Housing prices in Sofia grew by 5 percent in 2018, thanks to high demand, low unemployment and increased average monthly wages. The majority of home buyers last year were made up of Buglarian citizens who live abroad and subsequently rent the properties for additional income. There are, however, various industry issues that the National Association of Construction Developers suggests could hinder this trend, including flaws in the country’s Spatial Planning Act and administrative burdens. Still many of those active in the industry, like builders and realtors, are denying there is a potential crisis looming, according to local news reports.
