The new construction market has matured, the client now buys value, not just paying a price

Mr. Stoyanov, you are a long-time participant in the real estate market in Bulgaria and possess serious expertise in residential construction. What is happening today in the new buildings segment and what are the latest trends?

Over the past 20 years, Bulgaria has made significant progress in residential construction. After the stagnation from 2009 to 2015, the last decade saw a rapid development in Sofia and the major cities. This was the result of a stable economic environment and active support from the banking sector through facilitated mortgage and investment lending. Increased competition among developers raised standards. Today, increasingly higher quality, energy-efficient, and aesthetic buildings are being realized, comparable to good international examples.

Of course, there were also negative practices – poor execution, cheap materials, delayed deadlines, and disappointed clients. However, these processes contributed to the greater maturity of the market. Interest in new construction remained high for a long time, and prices increased by about 150% under the influence of strong demand, income growth, and inflation. Today, under the conditions of eurozone membership and a more mature market, we are entering a more sustainable and reasonable phase.

How have client attitudes changed and what is today's buyer looking for?

Clients are now significantly more informed and demanding. If price was the leading factor before, today it is value – location, overall concept, quality, and the reputation of the developer. Buying a home is one of the most important life decisions and often the biggest investment for a family. Therefore, people carefully choose from whom they buy. Developers with a proven track record, respected deadlines, and high quality will continue to develop successfully. Less prepared players will naturally drop out of the market.

If you want to better understand the dynamic real estate market, follow my YouTube channel, where I talk with key industry figures – from building creators to the people behind market data.

Why did you create the Stonehard PREMIER platform and what value does it create? 

We created Stonehard PREMIER in 2025 as a new division of LUXIMMO GROUP with the clear goal of selecting valuable projects from proven construction companies. We believe consultants carry moral and professional responsibility towards their clients. Our role is not just to offer properties but to recommend quality projects from established developers. Through continuous market analysis, we select and present projects both in Bulgaria and abroad – in Dubai, Greece, Spain, the USA, the Dominican Republic, and Bali. We provide full legal support and assistance in negotiations and transactions at the local level. We work only with offers directly from the investor and do not charge fees or commissions to buyers.

How do you support construction developers?

We maintain close professional relationships with proven construction developers and often participate already at the concept and design stage. Our many years of practical experience help ensure the final product is not only high quality and well thought out but also economically sustainable for investors. This is key because in today's environment the market does not forgive compromises and increasingly clearly distinguishes valuable projects from the rest.