Is Bulgaria a good place to invest in property?

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.

Will property prices rise in Bulgaria?

All Bulgaria’s major cities saw strong to moderate house price rises during the year to Q1 2020. … Prices for new dwellings rose by 5.1% while existing dwellings saw a price increase of 7%. Plovdiv, the second largest city in Bulgaria, saw the strongest price growth during the year to Q1 2020, at 8.3%.

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.

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Why should I invest in Bulgaria?

Reasons to invest in Bulgaria

The geographic location of Bulgaria makes it an attractive country for all types of businesses. Being strategically located and having important exits at the Black Sea, Bulgaria also offers financial and macroeconomic stability.

What are the pitfalls of buying property in Bulgaria?

The most common mistakes made when buying a property in Bulgaria can be summarized as: Paying a deposit to reserve a property. The seller insists that a lower price is put on the title deed (tax evasion). Feeling that you are the weak party when you are the market maker.

Is it safe to live in Bulgaria?

Bulgaria is generally safe for expats. Foreign citizens, businesses or organizations are rarely targeted. Most occurrences of crime are restricted to the large urban areas. … Most locals will maintain that they have experienced one type of crime or another, but these are rarely violent or serious crimes.

How much money do I need to retire in Bulgaria?

The cost breakdown is less than $1,200 per month. $1,156 per month on average. It costs me ~2000 leva per month to live in Sofia. The most expensive city in Bulgaria has affordable living costs on par with renowned “cheap” cities like Medellin or Manila.

Can I still 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.

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Why is it so cheap to live in Bulgaria?

Seasonal fruit, vegetables, yogurt, and meat are a fraction of the price of western European prices, which helps keep the cost of living in Bulgaria low. They’re often organic and local because that’s the way it’s always been done.

Can foreigners 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.

Is property cheap in Bulgaria?

“There are lots of very cheap apartments, houses and plots of land in Bulgaria, but they can be off the beaten track. For rental and resale, the location is essential, and you should ideally have property in a place that you like to be.”