Property in Bulgaria Buyer's Guides

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?

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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.

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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.

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