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Bulgarian Property & Real Estate News

Buying property in Bulgaria looking more appealing

Demand for properties across Europe has increased dramatically according to the latest stats from UK property search websites.

With the recent strength of sterling it makes it a good time to buy property in euro currency countries. Bulgaria which has its currency fixed to the euro is also benefiting from this trend.  Just last year a €100,000 property in Bulgaria would have cost around £91,000, but today the exact same property can be purchased for just £80,000, resulting in a substantial saving for buyers using sterling.

Of course this phenomenon is not reserved just from Bulgarian properties. It is also the case that property in Spain and France are now cheaper for UK buyers due to the weakness in the euro zone. One needs to thread carefully however as not all European markets are at the same stage of the property price life cycle.

Bulgarian property prices for example have dropped over 50% in many areas since 2008 and in some places drops as high as 70% have been seen. However the drops stopped in 2011 as prices reached fair value. In many cases properties in Bulgaria are selling below the cost of replacement. This makes it an ideal time to invest in Bulgarian properties. The price drops have leveled out and properties cannot be constructed at these price levels. This means as soon as the current supply of properties has been sold prices will have to start rising again to accommodate the increased construction costs.

The situation is not the same in France and Spain however. On the French market there has been limited price drops over the last 3-4 years. Prices have held up well but are now looking very overpriced. Recent research form the Economist indicates that French property prices are now overvalued by almost 50%.

In Spain priced have indeed decreased over the last 2-3 years but are still over valued by up to 30% according to the Economist’s report. This means it is still not the time to buy property in Spain as there is a high chance of further price drops over the coming years.

It seems if you are looking for a stable market where price drops have already occurred and property prices have reached fair value levels then you need to strongly consider buying property in Bulgaria. Look to purchase at prices close to the cost of construction as this will give you the best chances of future property price growth. With the current strength of sterling if you are buying with pounds then you will get an even better deal.

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Bulgarian properties for sale online

Given the numerous opportunities that the real estate market affords investors currently, it is no wonder that there has been a lot of interest and increasing inflows of capital into the market. People are taking advantage of the numerous opportunities, be it to make money in the process to buy a home in the country at affordable rates. One of the avenues that investors use in order to take advantage of the many opportunities to sell and to buy Bulgarian properties is the internet.

This is mainly because people are realizing the many benefits that come with using the internet for business. With the advances made in technology and the improvement of online security services, it has become convenient and effective for one to search for Bulgarian properties for sale online. One of the major reasons why people prefer to do this is the fact that it affords them a lot of convenience in buying property for sale in Bulgaria. This is so because one does not need to travel the whole country in search for property to buy, especially in the current existing conditions. All that one has to do is to scroll through the various properties and then decide on which ones he or she wants to specifically physically inspect. This saves a lot of time especially when it comes to transport costs which one would have spent traversing the country in a bid to buy Bulgarian property. Read more…

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Property in Bulgaria – things to consider if buying Bulgarian properties

The current real estate market in Bulgaria is very promising and has a lot of business opportunities for one to make a lot of money. Bulgarian properties are at their lowest price level in many years making this an ideal time to invest. Whether it is in terms of long term investments where one wants to keep the Bulgarian properties for a long period of time before deciding whether to sell it or where one wants to find property in Bulgaria for the sake of developing it and then selling it after a short while. For both types of investors, a key thing that they should keep in mind is that as long as making a profit is their key concern, the type of properties in Bulgaria that they settle for and the prices that they choose to buy property in Bulgaria. In addition to the low prices and excellent opportunities for investing in Bulgaria, the Bulgarian law regarding property ownership has recently changed to allow foreigners to purchase Bulgarian properties in their own name and provides additional protection for the buyers. We will write more about these changes to the ownership laws in a future update but for now you can be confident that the process for buying Bulgarian properties has been much more streamlined.

The first question that any person should ask himself or herself has to do with the type of property that the particular person wants. This is because there are various types of property in Bulgaria and thus one should be sure of what he or she really wants. The decision on which properties in Bulgaria one wants should be based on the particular investor’s needs and liking. He or she will have to consider the purpose for which the piece of real estate that he intends to buy will be put to use. This will also depend on the particular business that the person is involved in. People who mainly deal in apartments will look for apartment properties on sale, while those who specialize in trading in home real estate properties and who believe the current market for Bulgarian properties is favorable for such, he or she will have to look for real estate that has been designed as a home. Read more…

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Bulgarian Real Estate 2012 – market advice

The Bulgaria real estate industry currently has a lot of investment opportunities which many investors are rushing to take advantage of. This is especially so given the recent steps the industry has made in ensuring that the service delivery and transactions in the sector are streamlined. The regulations have over the years been streamlined, removing any unnecessary bureaucratic requirements while putting in place ones which ensure that a person seeking to buy Bulgarian real estate is well protected and encounters no obstacles in acquiring Bulgaria property. Having decreased over the last 2 to 3 years investment in property in Bulgaria is once again picking up.

The March 2012 market data from the National Statistics Institute in Sofia revealed that activity in the construction sector increased almost 2% over the February figure. In the civil engineering sector the increase was even greater and reached over 3% growth. The Bulgarian Economic ministry points to the data indicating an increase in demand for real estate from overseas as well as a surge in local demand recently. Credit conditions have improved recently and local Bulgarians are gradually dipping their toes back in the property market.

While exports have decreased marginally in the January-February 2012 period the reduction in GDP has been offset by a surge in tourist numbers. An increase in tourists from Greece and Russia has resulted in a record winter tourist season. Local hoteliers and tourist companies are gearing up for a busy summer as tourist numbers are expected to grow across the country. Over 1.5 million tourists are expected from Romania according to the latest information from the Institute for Tourism. This reflects an over 10% increase on the previous year. Read more…

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Ski property for sale – things to consider when buying ski property

More and more people are now taking winter sports holidays and the demand for good quality rental accommodation is growing consistently. This offers a good opportunity for owners of ski properties to reap huge financial returns for their smart investments. These handsome returns are a source of great attraction for many players seeking to enter the market and get its share of success. However there are some factors that such an investor must take into consideration before taking the plunge.

First and foremost an investor must seek to dig his or her money in a venture that would attract returns. Thus the investor should enquire into how frequent the ski property would be rented. This is an important aspect of the business because without customers renting the ski property, the investment would be meaningless. The investor needs to ask himself questions such as, how many people are willing to rent ski apartments. Would a ski resort attract a bigger clientele?

An investor should also put into consideration other activities that can be done in the ski property or around it apart from skiing. This is because most skiing happens during winter and thus the facility should be made for some other use during warmer seasons. The physical landscape around skiing facilities is usually stunning during summer and thus attracts guests who are into fishing, water rafting, and mountain climbing and so on. Thus location of the ski property for sale, be it a ski apartment or a ski resort should offer many outdoor activities. Read more…

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Apartments in Bulgaria – new procedures for foreigners buying Bulgarian apartments

Investing in real property is one of the oldest and safest ways of investing hard earned money. It is important that you invest at the right time and price. Now is the time to consider investing in Bulgaria as prices are at record lows. More and more people are yearning to own a piece of land in Bulgaria. This is usually by owning apartments in Bulgaria. Bulgaria is known as a great tourist destination. It is known for its historic importance and its scenic landscape.  Bulgaria also attracts many investors because there are many cheap Bulgarian apartments for sale. Apartments in Bulgaria have the potential of high returns for investors as they can be leased out to the many holiday makers in the country. Due to the increase in demand many property developers are moving towards developing properties in the form of apartments.

However despite the increase in demand for apartments in Bulgaria, a great deal of potential investors, are barely informed of the procedural law involved in buying apartments in Bulgaria. This article seeks to shed some light into the procedure of acquiring Bulgarian apartments for sale. The procedure for acquiring an apartment property in Bulgaria is a simple and straight forward one. First and foremost it is important that every foreigner should know that the Bulgarian law allows foreigners to own buildings in Bulgaria but until recently foreigners were not allowed to own Bulgarian land. However this law has changed since Bulgaria joined the EU and now in 2012 it the possible for foreigners to buy land in Bulgaria without setting up a company. This is an important new fact that makes it much easier and securer to buy apartments in Bulgaria.

Previously when a person identifies apartments for sale in Bulgaria, he or she should then proceed to seek an appointment to inspect the apartments he or she is interested in. When the potential buyer has inspected the apartment and is satisfied that it is in good condition and meets his taste and desired property, the purchaser then has to determine whether he or she wishes to purchase the property with or without land. The procedure to be followed and costs incurred differ depending on whether land is part of the sale. Read more…

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Bulgaria Property market 2012

Slightly more positive news is beginning to emerge from the Bulgaria property sector. Recent reports from several local real estate agents indicate that the is still life in the Bulgaria property market. Despite a difficult 3-4 years which saw a Bulgaria property crash due to over investment in several areas, local real estate agents Bulgarian Properties and Yavlena are predicting a better future for the Bulgaria property market.

Lately the Yavlena estate agency has reported that transaction level are up significantly in 2012 and investment deals have reached over €200 million. Recent sales show that Bulgaria property prices have stablised and are now beginning to over good value when yields and rental returns are considered.

The Bulgarian Properties agency has noted that higher end properties are doing better. During 2011 Bulgarian property prices continued to decline for lower end properties however the market for more exclusive luxury properties as held up better. In this sector of the Bulgaria property market the prices appear to have stabilized largely because there is a limited supply of suitable properties. In their recent Bulgaria real estate price reports they noted that properties in Bansko continue to decline due to oversupply in that area while chalets in Borovets and properties in Borovets ski resort are proving more resilient due to less supply and better quality.

The market of course has not returned to the glory days of 2008 when investors from all over Europe were clamoring to buy Bulgaria property. During the period 2003 to 2009 many overseas property investors considered Bulgarian property to be one of the investment hotspots in Eastern Europe. However when the global credit crisis hit in 2008 this had the effect of sucking a lot of cheap credit out the Bulgaria property market and thus effecting the price of Bulgarian properties for sale. Read more…

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Bulgarian Properties for sale – 2012

Interest in Bulgarian property is again rising following several years of prices falls. Over the last 3 years prices for Bulgarian properties for sale and real estate sales have dropped about 35% over all. Prices falls have been higher in some areas but lower in others. Generally prices have held up better in areas with less supply. Investing in Bulgaria property is also becoming safer. Now a member of the EU a recent global report shows that property rights within Bulgaria are now on a par with other popular investments locations. Investors in Bulgarian real estate can be comfortable in the knowledge that they are protected by robust European laws. The Property Right Report highlighted that buying property in Bulgaria 2012 is now the safest it has ever been.

Bulgarian real estate agents are once again positive about the prospects for the real estate market in their country. A recent interview with the leading broker Bulgarian Properties shows that they are gradually seeing the return of foreign investors in Bulgaria. They highlight the Borovets ski resort as an area that is seeing increased demand at present. Despite falls of about 20% in the average price of Borovets property, buyers are again showing interest in the ski resort and snapping up properties and prices unlikely to be seen again soon. The prices for Borovets apartments now range from 550-1,100 euros per m2 down from 900-1,700 euros per m2 just 3 years at. At the current price levels finished apartment in Borovets are now cheaper than the construction costs reports Ms Stokova. Read more…

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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…

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Foreign Investments continue in Bulgaria Properties

It is every country’s wish to have an increasing number of foreign investors choosing their country as the choice destination for their various investment endeavors. Every country tries to encourage this by use of various incentives such as tax advantages extended to investors in addition to increasing the flow of investments. This is so mainly because most countries realize the benefits that come with increased investments.

Bulgaria has managed to provide an ample environment for investors and thus making it possible for investors interested in buying Bulgaria Properties to easily carry out their transactions. This, the government of Bulgaria has been able to achieve in recent years through the simplification of the various requirements and procedures that are mandatory for one to comply with before being allowed to invest in Bulgaria properties for sale. This simplification of requirements has significantly reduced the cost and time required for people to get to own Bulgaria properties, thus making the country very attractive to foreign investors. The reduction of income and corporate taxes to just 10% has also greatly encouraged investments in Bulgaria

The country has worked to improve transparency in the Bulgaria properties market, and this level of predictability has also added to its allure as a target for foreign investors to buy Bulgaria properties for sale. Several new laws were passed in 2011, aimed at improving the quality of Bulgarian real estate agents and introducing better controls within the real estate sector. The increase in the level of investments has seen various developments in the whole economy of the country as it has meant that there are more capital inflows. This has led to the consistent developments of other sectors of the economy in the country. The buildup of infrastructure, spurred by both the increasing money flow in the country and the country’s need to boost the Bulgaria property sales has also led to increasing economical activities in other sectors as the environment in the country is being made better and better. Read more…

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