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1st January officially.

There's always the chance everything will go up if same experience as other countries changing to euro but the lev already tied to euro hopefully should limit the effect.

Be optimistic and always get disappointed or be a pessimist and you will never be disappointed lol.

@mickg

The pessimist lives a life of perpetual disappointment. At least the optimist gets to feel happy some of the time!

It's unclear whether the price of houses will rise. Some people say they will, others say they won't. As estate agents have quoted prices in euros for at least twelve years, I really don't see why it will cause property price rises. Price rises in the shops, yes, as BGN prices are rounded up in EUR. But can someone explain why it would affect property?

It's common in Bulgaria (and plenty of other countries) for property to be "overpriced" because sellers have unrealistic ideas of what THEIR bijou residence is worth. Many won't be told otherwise and will leave it on the market until either a sucker turns up or prices rise to match what they're asking; to them, this is proof that they were right all along.

I've been following the market here for over 20 years - and snapping up serious bargains when I see them. Prices here have been increasingly crazy for several years and many sellers are either asking for silly money or waiting until the euro arrives before they put their property up for sale (no doubt for silly money), so there's really not much on the market compared to normal.

On the other hand, "not much" isn't the same as "nothing" and there are ostensible bargains occasionally advertised on FB Marketplace etc - but of course, social media is also the haunt of scammers and chancers. Now is a good time to buy if you can find what you're looking for at a price you can afford, but it's also a good time to scam the unwary/desperate who are worried about not being able to afford to buy anything if prices do rocket next year.

There's another factor to bear in mind also: traditionally, prices have been low here because Bulgaria is the poorest country in the EU, but soon that epithet will be bestowed on some even poorer newcomer - maybe now is the time to be looking elsewhere for the best lifestyle opportunities and property bargains? 🤔

So that sounds as if there's no real reason prices will rise with the euro, apart from people's expectations that it will? If sellers are holding back on listing waiting for that price rise and more properties come on the market next year, there's also a chance it might have the opposite effect if there's a flood of new listings causing an oversupply of available property.

I'm also interested to see what happens when Bg is no longer the EU country offering the lowest cost of living.  I imagine this forum might get fewer new members.

I cannot see that by changing to euro how that would make Bulgaria more expensive that other present eu members.

If another country such as Turkey joined (been trying for many years, seem as far away now as ever), then yes Bulgaria likely moves off the bottom.

@janemulberry

There was "no real reason" for prices to rise when other countries joined the Eurozone, indeed there were assurances that they wouldn't - those promises turned out to be as empty as people's pockets became...

@mickg

Well, the most obvious response is that only a tiny fraction of Turkey is in Europe, so it makes no sense to have a country which is totally "non-European" in any meaningful geographical, cultural or economic way as a member of the EU. Not to mention that it is currently illegally occupying part of another EU member state, and making claims on the territory of yet another. I can't see Turkey ever becoming a member of the EU - but it also makes no sense for them to be in NATO yet they are, so who knows what political and logical gymnastics might yet emanate from Brussels.

Depending on how you calculate things, it's a toss-up as to whether Turkey or Bulgaria is the "poorer" country, but there are other poorer candidates who are likely to join the gravy-train fairly soon. Property in those countries is well worth looking at if one is seeking an el-cheapo fixer-upper; prices are pretty much certain to rise there, unless the EU falls apart..

I'm just saying that Turkey has for years tried to become member of eu, not that many eu members would welcome them.

Could never understand why Turkey was allowed Nato membership, they use their membership to get leverage on eu and Nato countries.

With regards to cost of living, Bulgaria and Romania very similar in eu and compared to other eu countries they are both firmly at bottom.

No doubt when euro comes on line in Bulgaria, prices will rise as happened in other countries  (Ireland was an example I saw and family members and friends I know were well pi××ed off at the time).

I can see demonstrations happening in Bulgaria and more chopping and changing of government.

I'm just saying that Turkey has for years tried to become member of eu, not that many eu members would welcome them.
Could never understand why Turkey was allowed Nato membership, they use their membership to get leverage on eu and Nato countries.
With regards to cost of living, Bulgaria and Romania very similar in eu and compared to other eu countries they are both firmly at bottom.
No doubt when euro comes on line in Bulgaria, prices will rise as happened in other countries (Ireland was an example I saw and family members and friends I know were well pi××ed off at the time).
I can see demonstrations happening in Bulgaria and more chopping and changing of government. - @mickg

Turkey will never join the EU, it has to follow certain things called chapters which it has a long way to go.

Turkey will never join the EU, it has to follow certain things called chapters which it has a long way to go. - @SimCityAT

Don't bet on it: the EU has a long history of historical revisionism and turning a blind eye to inconvenient truths - rather like some expat forums, now I come to think of it....

Candidate Status and Negotiations:

Turkey applied for membership in the European Economic Community (precursor to the EU) in 1987 and gained candidate status in 1999. Accession negotiations started in 2005 but have been stalled since 2018.

Reasons for Frozen Negotiations:

The EU has cited concerns about Turkey's democratic backsliding, particularly in areas of rule of law, human rights, and fundamental freedoms. The EU also highlighted a lack of progress in aligning with EU standards and fulfilling the Copenhagen criteria for membership.

EU-Turkey Relations:

While relations are strained, cooperation continues in areas of mutual interest, such as trade and security. The EU and Turkey also cooperate on issues related to refugees.

Future Prospects:

Despite Turkey's strategic importance and the desire of some for continued engagement, the EU has effectively frozen the accession process due to the aforementioned concerns. The European Parliament has reaffirmed its position that the process should remain frozen.

Key Considerations:

Turkey's relationship with Cyprus, a member of the EU, is another significant hurdle. Turkey's continued presence and actions in the northern part of Cyprus, which is not recognized by the international community, create further complications.