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Bulgarian Property & Real Estate News

Bulgaria apartments – advice when buying

In Bulgaria like any other country many people stay in rented apartments before they can afford to buy their own. After living for some time in rented apartments one may decide to buy their own so that they stop paying rent. Bulgarian apartments are considerably cheaper than other apartments all over Europe and many people today are investing in Bulgaria apartments for sale. There are several factors that should be considered before one can buy Bulgarian apartments, which are discussed in this article.

First one needs to decide on the area they would want to buy the apartment. This may involve a lot of research in the area or the research can still be done at home. The reason for this is to find cheap Bulgaria apartments. The price of an apartment depends on the area on which it is located.  Bulgaria apartments are found in classy areas as well as ordinary areas and one can chose the apartments they want to buy. It is advisable that one researches the market to confirm that they are getting the value for money. Advice can be sought from independent valuers and real estate agents. It is highly discouraged to seek advice just from developers or their agents because such advice would lack objectivity. Advice from an independent valuer is very important especially when one is buying unfinished apartments to make sure that the value for the money is realised.

If one wants to buy Bulgaria apartments they should visit as many places as possible to find the property that suits them. In Bulgaria there are many places to invest in apartments. One can choose from a modern city apartment in Sofia, the capital of Bulgaria or beach apartments on the Black Sea or even a ski property such as a Borovets apartment. Visiting many places equips someone with important knowledge that can be used in determining which Bulgarian apartments to buy. After identifying attractive apartments one should confirm that the desired facilities are available in the apartments. One may require a gym, a shop or a park and if they are absent, then there would be no pleasure in buying such an apartment. Read more…

How to Invest In Bulgaria Apartments for Sale

When thinking to invest in Bulgarian apartments, you are clearly about to make a good move. Bulgarian apartments represent an excellent opportunity due to multiple factors these days. First of all, the country has been accepted in the European Union a few years back, therefore the border limits have been removed, opening a lot of doors for growth and improvements. On a different note, the climate is temperate and has hot summers and snowy winters, therefore it has a bit of everything. The wide opening to the Black Sea is another great advantage, not to mention about the immediate proximity to Asia. The financial crisis has also touched Bulgaria gently, without any major problems. All in all, it is a great market to invest in, whether you want a home for your vacations or you plan to move along with your family.

While looking for Bulgaria apartments for sale, you will be hit by a wide offering at some very affordable prices. For a foreign citizen, the prices may come as bargains. The best news is that there are not too many restrictions either. In an attempt to raise the local economy, the authorities have given green light to all the investments and businesses. You may even purchase apartments in Bulgaria and rent them later. Whether you hope to start a real estate business in the country or you get a home for the summer vacations and you rent it for the rest of the year, such procedures are more than welcome. The real income when renting out your new home may range between 3% and 10%.

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Bulgaria apartment prices start to bottom out

The current report from the Bulgarian National Statistical Institute (NSI) for prices of Bulgarian apartments in the Bulgarian cities shows that prices in the fourth quarter of 2011 remained larger static versus the third quarter. The median price drop for Bulgaria apartments was just 1.6%, but the property prices in places like Pernik and Montana have decreased 9% and 7% respectively.

The annual figures for prices of Bulgarian apartments in the smaller towns decreased by approximately 6% which is virtually the same as in 2010.  The reduction in prices of apartment properties when inflation is considered was 2% for the quarter and 8% overall for the year.

The NSI figures show that the average price of a Bulgarian apartment in the regional cities in Bulgaria was 453 euro per m2 in Q3 2011 and broadly speaking the prices were the same in the capital Sofia and in Varna.

Overall the total price drops for city apartments in Bulgaria has been 37% since the market started to readjust 3 years ago. At this level buyers at now beginning to re-enter the market for apartments due to the low prices. In many cases it is now cheaper to take a mortgage on the apartment than to pay rent.

Bulgaria apartment prices down in Q1

Bulgarian apartments for sale in the capital city Sofia have decreased 8% in Q1 this year.

The prices of Bulgaria apartments averaged 860 euro/sq.m in Sofia in Q1 2011 down from 920 euro/sq.m in Q4 2010. This is based on apartments listed with the Bulgarian Properties estate agent.

Sales of apartments in Bulgaria have increased 100% compared to 2010 with the main focus of sale being for apartments in Sofia.

Bulgarian real estate agents expect that apartment prices will continue to increase in the Sofia region due to population growth and movement from smaller regional towns. It is expected that many of these new arrivals in Sofia will focus on buying bulgarian apartments in the capital as this is where the best opportunities for jobs are based.

Bulgarian apartment prices are stablising in 2011 having decreased for 2 years following the bursting of the credit bubble in 2008.

Bulgaria apartments popular with Russian buyers

Residential apartment prices in Bulgaria have settled around the same price level as last year, but the number of Bulgaria apartment sales has actually started to increase.

Reporting from the Bulgarian National Radio shows that the market for Bulgaria apartments is mainly from buyers interested in apartments priced between EUR 45 000 and EUR 70 000.

Russian buyers are the main investors active in the Bulgarian apartment sector at the moment. The are attracted by the reduced prices and the fact that Bulgarians speak a similar language. Read more…

If you are looking for Bulgarian real estate or off plan property in Borovets look no further than Concept Bulgaria.
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