New-build or resale? The honest comparison
A new Sofia apartment is rarely ready to live in on completion, and a resale flat is rarely as tired as the photographs suggest. The decision turns on four numbers.
What the construction stages mean
| Stage | What exists | Risk to the buyer |
|---|---|---|
| Act 14 | Structure complete, roof on | Moderate — the building legally exists and can be mortgaged by many banks |
| Act 15 | Works accepted between builder and developer | Lower — snagging phase |
| Act 16 | Occupancy permit issued | Minimal — you can move in, register and connect utilities |
Buying before Act 14 buys you the biggest discount — often 8–15% below the completed price — and the biggest risk. Never pay ahead of the contractual milestones, and always look at a building the same developer has already finished.
What "shell and core" really costs
Most Sofia new-builds are delivered in a state Bulgarians call шпакловка и замазка: plastered walls, screed floors, wiring and plumbing brought to the flat, no flooring, no kitchen, no bathroom fittings, sometimes no internal doors. Fitting out to a normal standard costs €250–400 per square metre, and €500+ for a high specification. On an 80 m² flat, that is €20,000–32,000 and three to five months.
The four numbers that decide it
- Price per usable square metre. New buildings often carry a 20–25% common-parts coefficient against 12–15% in older blocks. A new flat at €2,600/m² built-up can be dearer per usable metre than a resale at €2,300.
- The finishing budget. Add it to the new-build price before comparing.
- The parking space. €8,000–20,000, almost never included.
- The running costs. A new insulated block with a lift and its own substation typically costs 30–40% less to heat than an uninsulated 1970s panel flat of the same size — worth €300–500 a year.
When resale wins
Resale wins on location almost every time: the inner neighbourhoods were built out decades ago, so a central address usually means an older building. It also wins on plot size, ceiling height in pre-1960 brick, and on certainty — you can see exactly what you are buying and talk to the neighbours. And it wins on timing: you can move in next month.
When new-build wins
New wins on running costs, lifts and accessibility, parking, sound insulation, warranty (structural defects are covered for years under Bulgarian law), and on the simple fact that everything is new at once. For buy-to-let, new blocks let faster and to better tenants in the outer neighbourhoods; in the centre, character stock still commands the premium.
Due diligence specific to new-build
- Check the developer's completed buildings and speak to residents of one
- Read the construction permit and confirm the number of storeys matches what is being sold
- Insist that payments track Act 14 / Act 15 / Act 16 milestones
- Get the common-parts coefficient in writing and compute the net area
- Ask what the monthly building fee will be once the block is occupied
- Confirm in the contract who pays for the connection of utilities
Frequently asked questions
What is Act 16 in Bulgaria?
Act 16 is the occupancy permit — the document confirming a building may legally be used. Until it is issued you cannot register a permanent address, connect permanent utility contracts or, with most banks, complete a mortgage.
Are new Bulgarian apartments sold unfinished?
Usually yes. The standard delivery is plastered walls and screed floors with services brought to the flat; flooring, kitchen, bathroom and internal doors are the buyer's cost, at €250–400 per square metre.
Is off-plan cheaper in Sofia?
Typically 8–15% below the completed price at the earliest stage, narrowing as construction progresses. The discount is the compensation for construction and developer risk.
Does a new build include a parking space?
Rarely. Expect to pay €8,000–20,000 extra for a space in Sofia, and check whether it is registered property or merely allocated by the building.
Are panel blocks a bad buy?
Not automatically. Insulated panel blocks are cheap to run and structurally sound; they are simply harder to alter and sell at a 10–20% discount to comparable brick. That discount is the opportunity.
Written by the Apartment in Sofia editorial team and reviewed against the market sample of 16 September 2026. General information, not legal or tax advice — take advice on your own circumstances.
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