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Housing in Bulgaria
 
 
 

General

Bulgaria has emerged strongly as an enticing European nation offering affordable opportunity to all those who choose to emigrate and expatriate to live within its borders. Formerly a communist nation it has shaken off the shackles of its repressive past and embraced free trade, freedom of movement and above all else, freedom to develop its own identity. The Bulgaria that has emerged is an attractive and beguiling nation that is managing to attract growing numbers of international citizens to relocate there.

Renting a Property

During the Communist era the majority of housing constructed in Bulgaria was in the form of high-rise apartment buildings – therefore most Bulgarians are used to living in apartments and as the country began to develop a property market of interest to foreign buyers and investors, so apartments were the initial choice of housing to be constructed.

The main cities like Sofia are more expensive when it comes to real estate price, either rental or purchase, but they may afford you a better standard of build – including insulation – and better shelter from power cuts.

Popular areas for the expatriate community is Sofia.

The availability of accommodation is mostly in apartment buildings. Detached and semi-detached houses are also available, mainly in the suburbs. Commuting means 3-6 miles from suburbia to downtown. Rents are moderate. The highest are in the capital city of Sofia. Furnished and unfurnished flats are rented for one year or longer.

Varies from area to area and the size of the house or apartment you'll pay anything from US$ 300-US$ 2,600 for an apartment and US$ 3000 and higher for a house. The local currency is Lev (BGN).

Buying a Property

Property in Bulgaria is the fastest growing asset in the country. In recent years the property prices in Bulgaria have increased by more than 25% in general. Some real estate has gone up by 50% in one year, especially in Sofia, in the Black Sea beach resorts (Sunny Beach) and in the ski resorts (Borovets, Bansko). The improved economic conditions, political and social stability in Bulgaria over recent years have brought a real boom in the prices of property in Bulgaria. Another important factor for the rising property market is the huge tourism potential in the country. There are great natural attractions – high mountains, the beautiful and clean Black Sea coast, preserved rural areas, minimum urbanisation, thousands of years of history, etc. Nowadays Bulgaria is considered to be the fastest growing tourism market in Europe. This is something that foreign buyers of property in Bulgaria appreciate the most. Together with the constantly rising prices, buying property in Bulgaria is attracting a lot of interest from investors.


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