For several years, we have noticed a serious increase in prices on the real estate market, despite this, prices in major Bulgarian cities remain among the lowest compared to major cities in the European Union. Bulgaria is the European Union country with the lowest average price per square meter. Luxembourg, France, Germany and Austria are among the most expensive countries to own a home. Over a 13-year period - from 2010 to now, housing prices in the EU have increased by over 49 percent.
Since the folk psychology in Bulgaria is different from that in Western Europe, housing prices are often perceived as high , especially in a boom period. In our country, there is a perception that everyone should and can afford their own property. While in a number of countries on the Old Continent this is not a practice. Property prices are significantly higher there and many middle class people cannot actually afford their own home, while in Bulgaria the middle class traditionally has its own home. Bulgaria is in seventh place in terms of the highest share of people who own and live in their own property, which means that despite rising prices, housing in our country remains affordable. Thus, the ownership of one's own property in our country continues to be traditional, while in many European countries living in rent is accepted as a standard norm for the middle class. In many of the large and developed countries in the west, taxes and property transfer fees are very high, there are no tax breaks on interest,  which makes it difficult to make a decision to buy. Also, housing rents are very high and this hinders raising a down payment to buy a home. For comparison, we will point out that the average prices of new homes cross the border of 7,500 euros/sq.m. meter in four cities - These are London (€8,426/sq.m.), Oslo (€8,417/sq.m.), Frankfurt (€8,400/sq.m.) and Amsterdam (€7,600/sq.m.) . m.). And the ranking is led by Paris and Munich, where the average price per square meter is over 10,000 euros.