Reasons to Consider Property Investment in Sofia, Bulgaria
Published on Friday, February 13th, 2009
Before Bulgaria joined the European Union back in 2007, the level of property investment interest in the nation was already reaching fever point as those looking to get in at a low level into an emerging market where there was seemingly massive room for growth, targeted this particular nation.
Bulgaria was being pushed as everything from a summer holiday haunt to the new winter snow capital of Europe, and investors were snapping up apartments off plan across the country from Bansko to Sunny Beach. Some of these investors have fared better than others – some bought in well constructed and located developments that have remained attractive and of interest. Others bought in shoddy blocks or from a developer who never completed his off-plan offerings. As a result, Bulgaria’s property market has subsequently received very mixed reviews.
In this article we’re going to look at the real reasons to still consider making a property investment commitment in Sofia, the capital of Bulgaria, where we feel there are now some fundamental foundations upon which a solid investment purchase can be made. We’re not going to comment on the traditional coastal and mountain tourism markets, because we fell they have been over hyped and over sold – however, Sofia is a very different story.
It’s no secret that Bulgaria’s property market was over-hyped, over-priced and over-sold, but did you know that there are actually still pockets of the country where it still makes sound investment sense to buy a property?
A leading figure in the Bulgarian property industry has issued a warning to property buyers in his native country, and the warning actually applies to all those buying real estate abroad, no matter where in the world they are buying.
The one thing holding back some would-be expatriates is the thought of how they’re going to make a living once they move abroad. In a country such as Bulgaria this concern is intensified, because it doesn’t have the level of international placements that a country such as France or Germany can support for example.
There has been very little positive news bandied about in relation to the property market in Bulgaria of late – where there has been anything remotely optimistic written it has been in relation to Bulgaria’s ski resorts and the properties therein, which are still in demand from rental tenants and will likely remain so as long as Bulgaria keeps its feet on the ground and remains a cheap ski destination.
Oh, oh, oh, sometimes our very opinionated streak cannot be quashed and reined in for the sake of calm reporting – and today is one of those days when we have decided to let it all come tumbling out! Please forgive us…for we’ve just read some hysterical news from the Bulgarian property market that we just had to share with you.
As more Brits start to feel the effects of economic woes at home they’re starting to ditch some of those little luxuries that no longer seem quite so affordable or desirable, topping the list of such luxuries is the second home abroad. The 
Following the boom, boom, boom years in Bulgaria’s property market when the country was being heralded as the next big thing in terms of ski and sunshine resort property investment for jet-to-let returns, all has been quiet of late on the Bulgarian real estate landscape and so it is time to ask the question – ‘what’s happening in Bulgaria’s property market?’
When Bulgaria shook off the shackles of communism by 1990 the country suffered somewhat from the bumpy start that it had economically speaking, and many Bulgarians left the nation and others moved to the main towns and cities to find work. This all had a dramatic impact on rural life in Bulgaria that still remains to this day. Namely, Bulgarians still see it as a requirement to head to the main towns to make any money and so living in rural Bulgaria and making a life is that which only a few manage.
