The New Construction Market Has Matured: Buyers Now Seek Value, Not Just a Price

The residential construction market in Bulgaria is changing increasingly visibly - and so are buyers’ expectations. In this interview, Nikola Stoyanov, founder of LUXIMMO GROUP, talks about the latest trends in new-build properties, the more selective approach of today’s clients, and why quality, a well-developed environment and trust in the developer are becoming increasingly important.

The conversation also highlights the philosophy behind Stonehard PREMIER — the idea of working with carefully selected projects of real value, both in Bulgaria and on international markets, and how professional selection can help clients make a more secure and sustainable long-term choice.

Mr Stoyanov, you have been an active participant in the Bulgarian property market for many years and have strong expertise in residential construction. What is happening today in the new-build segment and what are the latest trends?

Over the past 20 years, Bulgaria has made significant progress in residential construction. After the slowdown between 2009 and 2015, the last decade brought intense development activity in Sofia and the major cities. This was driven by a stable economic environment and the active support of the banking sector through accessible mortgage and investment financing.

Growing competition among developers has raised market standards. Today, we see increasingly high-quality, energy-efficient and aesthetically refined buildings that can be compared with strong international examples.

Of course, there have also been negative practices — poor execution, cheap materials, delayed deadlines and disappointed clients. However, these processes have also contributed to the greater maturity of the market. Interest in new-build properties remained strong for a long time, while prices increased by around 150%, driven by strong demand, rising incomes and inflation.

Today, in the context of Bulgaria’s accession to the Eurozone and a more mature market, we are entering a more sustainable and reasonable stage.

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

Clients are now much better informed and more demanding. In the past, the leading factor was price. 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 largest investment for a family. This is why people are now much more careful about who they buy from. Developers with a proven track record, completed projects, respected deadlines and consistently high quality will continue to grow successfully. Less prepared market players will naturally fall behind.

To better understand the dynamics of the real estate market, follow my YouTube channel, where I speak with key figures in the industry — from the creators of buildings to the experts behind the market data.

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

We created Stonehard PREMIER in 2025 as a new division of LUXIMMO GROUP, with a clear goal: to select valuable projects developed by proven construction companies.

We believe that consultants have both a moral and professional responsibility towards their clients. Our role is not simply to offer properties, but to recommend quality projects by 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 during negotiations and transactions at a local level.

We work only with offers directly from the developer and do not charge buyers any fees or commissions.

How do you support property developers?

We maintain close professional relationships with proven developers and often take part as early as the concept and design stage. Our many years of practical experience help ensure that the final product is not only high-quality and well thought out, but also economically sustainable for investors.

This is essential in today’s environment, because the market no longer forgives compromises and increasingly clearly distinguishes valuable projects from the rest.

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