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Latest news on buying apartments in Bulgaria

Searching for cheap Bulgaria apartments is easy. All you need to do is to know what types of apartment you are looking for. After that, you have to determine your budget so that you will be able to find an apartment that suits your finances. If you know what you want, then you will definitely find the best Bulgaria apartments.

There are several things you can do in order to find the appropriate apartments in Bulgaria. The first thing you should do is to conduct a thorough research. Your research will be based on what type of apartment you like. The size of apartment matters a lot. You can either choose large or small apartment, depending on the number of people who are going to use the apartment. There are also fully furnish and semi furnish apartments. So make sure you also take a look at this factor.

If you are looking for apartments in Bulgaria, it would be a wise decision if you are going to contact a real estate broker. You need to discuss various things, especially the type of apartment that you want as well as your budget. This way the real estate broker will be able to find an apartment that would suit your needs. Ideally, the prices of apartments in Bulgaria range from $700 to $1000 per month. Some apartments offer a rate on a weekly basis and on a daily basis. The weekly rate ranges from $300 to $400/weekly and $50 to $60 on a daily basis. The payment plan depends on your choice. If you are on a tight budget, you should check out the different payment deals and options.

If you want to visit Bulgaria, it would be a wise decision if you are going to take advantage on the different apartments in Bulgaria. Renting apartments in Bulgaria is actually cheaper as compared to lodging house and hotels. It is a cost effective mean of finding the best accommodation. The location of the apartment is also essential. Make sure to choose a location that offers easy access to different amenities in Bulgaria. Most of the apartments are located in the seaside, countryside, mountains, and near the metropolitan. Choose the best location, depending on your purpose of going to Bulgaria.

Most businessmen take advantage of buying apartments in Bulgaria. Aside from the fact that they will be able to enjoy it personally, they will also have a continuous income generating apartment. Bulgaria is the leading tourist destination, especially for people who have intense passion for skiing. There are millions of tourists visiting Bulgaria in a yearly basis. Hence, if you have an apartment property in Bulgaria you will have a continuous flow of income. There are a lot of apartments for sale in Bulgaria. You can check out the internet. It offers a lot of options for people who want to own a property in Bulgaria. As a matter of fact, you will be able to purchase an apartment at a very reasonable price.

Bulgarian apartments in regional towns see some price movement

According to the latest report by the Bulgarian National Statistical Institute (NSI), which was conducted to measure the prices of Bulgarian apartments in the regional cities in 4Q 2011; the prices have almost been identical  to those prevailing in the same year’s 3Q. The fall in the prices on an average is only 1.5% just because the rates of the Bulgaria apartments for sale in Montana and Pernik towns have witnessed the maximum drop, which was -8.27% and -6.91% respectively. During the second half of 2011, the Bulgarian real estate market has seen a slowdown in the pace of fall in the apartment prices across the nation. It was found that this drop was only 1-1.5% on an average on a quarterly basis.

Taking into account an annual basis, the prices of Bulgarian apartments for sale in the regional cities fell by 6.2% on an average, which is similar to the annual drop witnessed in the third quarter of 2011. After calculating via the Harmonized Index of Consumer Prices (HICP), the real fall in the prices of apartments following the hike is just 2% as compared to the former quarter. On an annual basis, the fall was 8.5% as compared to the same quarter of the previous year, 2010.

The NSI data further reported that the average price a buyer had paid to buy Bulgaria apartments in the regional cities was 453 EUR sq. m. in the last quarter of 2011, with the prices being same in Varna as well as in the capital Sofia. However, since the last few months of 2011, the prices at which the apartments were sold in the biggest cities were: Sofia – 743 EUR per sq. m., Varna – 743 EUR per sq. m., Plovdiv – 485 EUR per sq. m., Bourgas – 596 EUR per sq. m., Stara Zagora – 455 EUR per sq. m., Rousse – 430 EUR per sq. m., and Veliko Tarnovo – 365 EUR per sq. m.

In case of Sofia, the fall in the prices in the last quarter of 2011 was -0.22%, which was nominal as compared to the former quarter. This means that the cheap Bulgaria apartments are now no longer so cheaply available. Therefore, if you are now thinking to buy Bulgaria apartments in any city of Bulgaria, be ready to spend a bit more. This is true despite that after inflation, the prices of apartments in the capital city of the country have fallen by 0.65%, which is much low than the fall in the prices in the previous quarter.

The reports also revealed that the accumulated nominal price fall of the Bulgarian apartments in the provincial cities in the former three years is 37.5% since the onset of the crisis. However, the accumulated price drop is 41% for the capital city. Nonetheless, the accumulated real fall in the prices of the Bulgarian apartments on an average after inflation as well as since the onset of crisis is 42% for the nation, 45.5% for the capital.

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…

BenchMark Fund invests in development plot in Borovets ski resort

Real estate investment trust BenchMark Fund Estates has signed a preliminary contract for the purchase of a 9,000 m2 development plot in the Bulgarian ski resort Borovets. The company plans to build a luxury Bulgaria apartments complex with a total built-up area of approximately 12,000 m2. Building will begin within the next 3 months and should be finished by mid-2009.
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EU accession helps boast Bulgarian Property market

Joining the European Union has helped increase the confidence of Bulgarian property investors. Well know property investment website Buy Association claims that Bulgaria was already one of the most popular property investment locations in eastern Europe, but by joining the European Union it is now much easier for foreign investors to buy Bulgarian property and apartments. The local real estate laws are now comparable with those in Western Europe and this gives greater protection to buyers. Combining this with the increasing availability of mortgage finance means that Bulgarian apartments and investment properties a being snapped up by many investors. The increased popularity of Bulgarian properties and apartments comes from the fact that prices have risen rapidly in more development markets like Portugal and Spain. Coastal properties on the Black Sea, ski property developments and bulgaria apartments are said to be the most in demand at present.

The Sultan of Oman buys into Super Borovets

The state fund of Oman has acquired a 33.5% stake in the Super Borovets property project. His Majesty Sultan Qaboos bin Said of Oman will participate in the development of a luxurious winter resort called Super Borovets in the Bulgarian Rila mountains. The State Fund of Oman has bought a 33.5-percent-stake in the project from the Rila Borovets 2004 venture. The British investment fund Equest acquired 33.5-percent stake in the Super Borovets project. Read more…

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