Property in Bulgaria
Examining whether buying property in Bulgaria is still a good investment choice, and exploring how expats can buy and own real estate
There’s industry talk that the Bulgarian property market is back in favour with Brits seeking affordable property abroad for escape
TheMoveChannel, usually a reliable source for property statistics, has revealed that buyer interest in Bulgarian property has once again surged, following the death of the nation’s real estate market post the global economic meltdown of 2008.
We find this extremely hard to believe however, because we cannot accept that British buyers, who are reportedly the ones now searching for Bulgarian bargains, have that short a memory!
Can people not recall all the horror stories that came from the Bulgarian property market back when it was originally booming? Property in Bulgaria should have come with a health warning back then, and we find it hard to believe that anything has changed…so let’s examine what’s seemingly created this resurgence in interest, and see if we can bring some common sense to the subject
Is it safe to say that the property market in Bulgaria is dead and offering no profit to real estate investors? Or are there pockets of the country still worth a punt? An overview of Bulgaria’s current property fortunes for investors and those who hold property in Bulgaria
Have you been wondering whatever happened to the property market in Bulgaria? It was the most hyped market back in the day with properties being marketed for sale on the coast, in the mountains, in the capital city and even rurally for those who wanted to escape the rat race and live the dream in an affordable country abroad.
Properties in the nation were highly affordable – they were pushed up in value as Bulgaria joined the EU and then pushed even higher by mass marketing hype that was not built on any sustainable or realistic fundamentals. At the same time as people began to question the ever rising value of homes in Bulgaria, so too did people begin questioning the likes of build quality, supply and demand ratios in holiday resorts where the property sold was to investors, and even the attraction of Bulgaria as a place to live, work, retire or visit…
As the world’s economic markets began to melt and real estate became one of the biggest bubbles to pop at home and abroad, so Bulgaria’s property market was further undermined and it pretty much seemed to ‘die’ overnight. So what’s actually happening in Bulgaria’s so-called ‘dead property market’ because there are still people living in the nation, there are still flights in and out of the country and there are still those who have ‘investment assets’ in Bulgaria. Is it really dead/dying – or is there still some life left in the nation’s real estate economy after all?
Examining the real reasons behind Sofia’s growth as a property investment hotspot in the new Europe
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.
Property prices in Sofia, the capital of Bulgaria, have fallen by as much as 20% making it possible to buy bargain priced real estate
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?
We’re mainly talking about Sofia, the capital of Bulgaria where the government currently has significant infrastructure investment plans, and where business is continuing to boom.
Sofia benefited from the fact that it was starting from a low base point in property pricing terms – and it advanced significantly as all the hype flowed about Bulgaria’s real estate prospects. But now that the nation has been impacted by the credit crunch and an undermined economy, so prices are falling in the capital and it’s possible to find bargain basement property in Bulgaria’s Sofia that may make a sound investment for the future.
Why buyers of property in Bulgaria need to be wary of unfinished real estate developments and cut price property deals
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.
Nikolai Pehlivanov from Green Life, the Bulgarian Entrepreneurial Chamber’s Developer of the Year, has advised caution when it comes to those buying into seemingly cut price developments.
The warning he has issued to property buyers in Bulgaria is along the lines of: ‘if something appears to good to be true then it probably is!’ And in this article we will expand upon this sentiment in order to protect those going in search of property bargains overseas.
Taking a look at ways the British can tap into Russian interest in property in Bulgaria to potentially profit from their real estate investments
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.
Coastal property in Bulgaria has been all but written off by the British press as being a bad investment and not worth the levs that people have paid for it – but some interesting new facts have come to light that suggest there is life in Bulgaria’s summer resorts after all, and that we have just all been looking in the wrong place for it.
There is sustained and consistent Russian interest in property in Bulgaria on the coast and in the interior and so today we’re asking, are Russian’s saving Bulgaria’s property market? If you already own a property in Bulgaria and you’re wondering what to do with it, whether you can sell it today and cut your losses, whether it will rent and if it will ever turn a profit, read on!
A sarcastic review of the funniest press release yet about the so called ‘positive’ state of the Bulgarian property market
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.
Earlier this year we just about managed to bite our tongues and refrain from comment when the estate agents at Knight Frank placed Bulgaria in the top spot for property price gains in 2008. We stopped ourselves from pointing out what could be the potential irony of an estate agency with properties for sale in a slow and stagnant market such as Bulgaria’s talking it up…but now we cannot hold back any longer.
Is there room for growth or appreciation in Bulgaria’s residential property market at the moment or is the market stagnant?
Taking a look at the best towns, villages and communities in Bulgaria for those who want to buy family homes
Why the commercial property market in Bulgaria is proving successful for investors and why it looks interesting for 2008 entry