A Bulgarian square

Country Guides Country Guide: Bulgaria

Email this page

Contents:

Date Published:
29/05/2008

Ten years ago few of us had ever visited Bulgaria much less considered buying a property in the Balkan backwater. But, how that’s all changed. Industry body the Association of International Property Professionals reported that in 2007 almost one in 10 of us who bought a property abroad did so in Bulgaria.

By Gordon Miller

The country is now the fourth (Spain, France and the USA are above it in the ranking) most popular place overseas where we buy property.

The reasons for Bulgaria’s burgeoning popularity have been overwhelmingly based on cheap property prices – even today around £20,000 buys you a studio apartment in some locations either mountainside or, for an extra £5,000, on the Black Sea coast – which is not to suggest Bulgaria does not have attractions.

Bulgaria

It has some average to good ski resorts, particularly Bansko, a couple of good Roman ruins, notably at Plovdiv, and the coast is pretty in parts even if it is getting overly built up.

Mark Parvez of agent key4bulgaria, said: 'Bulgaria’s housing market has kept going at a steady pace, despite the global financial crisis. This is mainly due to the indigenous population benefiting from large salary increases since Bulgaria joined the EU, putting many people in a position to own their own property.

'Bulgaria is still a top destination for investment for the foreign buyer due to the low entry level and stable market conditions, which are complemented by low tax thresholds.'

Tax incentives allied with cheap property prices have driven an investment boom in Bulgaria over the past decade. House prices have more than trebled since 1997, and for the fourth consecutive quarter Bulgaria has topped the Knight Frank Global House Price Index, with growth of 32.2% year-on-year.

Bulgaria

Nick Barnes, head of International Research, said: 'Bulgaria is at the head of the list, where prices have now risen by 68 per cent over the last two years. Admittedly this occurred from a low base, but demand and domestic economic growth remain strong.'

Those looking to buy a property in Bulgaria nowadays are spoiled for choice. The construction boom shows little sign of abating as EU regeneration funds spill in to the country and circulate through the economy. Those who prefer a year-round destination might choose the Bansko-Borovets area, where winter sports and summer leisure activities can be enjoyed.

Your Comments

Post your comment

Please note: In order to post a comment you need to be registered and logged in to Channel 4:

Sign In Here or Register Here

Comments closed

Comments are closed at the present time

Your comments

Post your comment
By posting on this website you are agreeing to abide by our Comments Policy.
Mandatory Fields are marked with *
Your Comment (Maximum characters: 4000) *
You have

Comments

Thank you for your comment!

Your message will be reviewed and the best ones will be published below.

If you intended to make an official comment to Channel 4 please contact us.

Comments

  1. Hi, I have just watched your program on Bulsatcom dating from i assume 2003 because the exchange rate was dated thus. It was very entertaining, but no one was asking the right questions, and no one was giving the right answers. I live and have lived for almost four years in lovely Bulgaria. It isnt all hunky dorry. I think your program should show the downside of life anywhere in the world.It is not all sunshine and happieness. There is the problem of understanding the language, the beaurocracy and all the little irritants to be found in any foreign country, never mind the only 80000 pounds for the property.Now i have said my bit, i will not return to the UK, but will end my days here. I hope that i have not offended you Amanda, you were always a favourite of mine, but when you see good people having to flee back to UK because they got things wrong, its a bit sad. If you want information about the many pitfalls that can ocour, give me a call or whatever,and it could make good TV, and as an old TV person, I might be interested in doing it myself. Apologies for my terible English, but i tend to think and talk Bulgarian. Good init. Regards, Mike
    Posted by mike on 04/08/2009 18:27:01
    Offensive? Unsuitable? Report this comment
  2. Hello My partner and i have bought an apartment in an aparthotel in bansko. We have had some difficulty with the developer and maanger at the hotel. We are now needing advice on the lease agreement for renting out our apartment and wonder if you could point us in the right direction. We would be very grateful of your help as we have just come back from a very stressful weekend and are at a loss as to where to go for help. many thanks
    Posted by Hazel Broom on 04/04/2009 16:18:50
    Offensive? Unsuitable? Report this comment
  3. Hi there Can I suggest you go to our sister site, www.aplaceinthesun.com - they'll be much better at this!
    Posted by Lucy 4Homes Ed on 18/08/2008 13:06:41
    Offensive? Unsuitable? Report this comment
  4. i brought a property out in bulgaria last year for £4200 and about 30 miles north west of varna, i am currently looking to sell on this property but need advice and where is best to sell it on. i have the keys and all the land and business deeds etc. even if i was to just get the money back i paid for it id be happy!! regards mr jules thompson.
    Posted by jules thompson on 17/08/2008 16:37:25
    Offensive? Unsuitable? Report this comment

Advertisement

More on 4Homes

4Homes Property Search

Over 300,000 properties to search, interactive maps, neighbourhood reports and more...

 

e.g. Notting Hill, SW3, Glasgow

Powered by: Nestoria

A Place In The Sun

Essential Guides & Advice

Country Guides

Getting Away From It All...

Amanda, Jonnie and Jasmine A Place in the Sun Live Birmingham NEC, Oct 2nd-4th, Buy Tickets Now

Advertisement


4Homes

Skip Channel4 main Navigation
Explore Channel4
Food
Homes
Film
4Car
News
See All

Channel 4 © 2009. Channel 4 is not responsible for the content of external websites.