Is Bulgaria good for property investment?
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Is Bulgaria good for property investment?
Many investors have already spotted that Bulgaria offers very good value for money, with letting potential as a holiday destination. The best investment opportunities include the ski resort of Bansko and the Black Sea resorts of Varna and Bourgas. Some 80\% are investing in new developments.
Why is property cheap in Bulgaria?
Reasons why in Bulgaria cheap property, a few: The consequences of the 2008 crisis and the sharp drop in demand, causing prices have fallen by 40\%. Lower purchasing power of the population compared to an average level. The socialist heritage of the country.
Are property prices rising in Bulgaria?
Housing price dynamics in 2020 Reports from the Bulgarian National Statistical Institute (NSI) show that real estate in Bulgaria in 2020 has risen in price by 5.4\% in annual terms.
Can I buy a house in Bulgaria after Brexit?
In Bulgaria, non-EU citizens are allowed to buy built property and in this case they are treated exactly as EU citizens. Non-EU citizens, however, are not allowed to acquire land, so if a British national wants to buy a country house with yard, this may no longer be possible as an individual.
Can non EU citizen buy property in Bulgaria?
According to Bulgarian law, foreign citizens of EU countries or the European Economic Area (EEA) have the right to buy property in the country, including land. This also means that foreigners can invest in property in Bulgaria – either through a local legal entity or personally.
Where is the best place to buy property Bulgaria?
If you are looking for permanent residence, the best choice are the big cities. Such as the capital of Sofia, Burgas, Varna, Plovdiv where life is in full swing throughout the whole year. If you prefer quiet living, you can buy a home in small towns like Nessebar, Pomorie, Sozopol or Aheloy.
Is it difficult to buy property in Bulgaria?
Bulgarian law allows foreign persons to buy property in the country but with some limitations. Most of the apartments for sale in Bulgaria are sold without land, so we may say that in most of the cases you are able to buy an apartment without any limitations, no matter which country you come from.