Bulgaria – the ability to purchase real estate at very attractive prices

  • 6 years ago
  • 1

According to analysts of the Bulgarian real estate market enjoyed growing interest of foreigners.

Own a house, condo or apartment on the sunny coast of the Black sea is an incredible offer for foreign investors who are tempted by low prices, if it’s about the EU and legislation, which allows you to purchase real estate in this part of Europe without any obstacles.

After payment of the entire cost of purchased apartment there is a transfer of property rights by means of a purchase contract in the form of a notarial deed and the price of all official fees associated with the purchase of eur 3,5–4,0% of the value of the property.

Small apartment in Bulgaria can be purchased for 30-40 000 thousand EUROS, and prices in luxury complexes on the Black sea fell to approximately 800 EUROS per m2.

They are popular especially in the region of Varna and in the area north of the Sunshine coast, where a two bedroom apartment typically costs around 50-80 thousand EUROS. On the sunny coast, prices are lower, because there is huge overcapacity of flats, and demand has fallen because of Sunny beach is often associated with young people and social tourism.

Another proposal for the Czech people, who are interested to have your own house in Bulgaria, is the fact that, compared with the period before the crisis – prices in the local market fell by about 20 – 40%.

Before the turkeys that were especially people from Scandinavia and Great Britain, who bought apartments in Bulgaria. In post-crisis situations, the people in these countries started to worry about investing in Bulgaria, which for several years stagnated in the market with low prices.

In the past few years things have changed. The Bulgarian economy has improved and now many Bulgarians starting to show interest in owning a holiday home

and there is growing interest among Czechs and other foreigners who want to own property in this country, and due to favourable prices of the investments are in real estate in Bulgaria also popular in countries such as Poland, Slovakia, the Czech republic and Romania.

Another important factor that should be taken into account, is that in the next few years in this country will flow almost 7 billion EUROS of EU funds, which should have a very positive impact on the local construction and real estate market.

Overall, this means that in the coming years it is expected a gradual increase in prices.

Analysts note that the profitability of the investment is in the range of 3-7% per annum, which exceeds the rate of return that can be obtained from the currently available deposits, which undoubtedly makes the purchase of real estate abroad preferred.

So for people who are thinking about buying real estate in this sunny country, it is a good time to search for bargains, because for the real estate market in Bulgaria are currently characteristic of favorable prices and negligible demand, which is slowly starting to recover.

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