Property for Sale in Bulgaria

Location, climate, and economy

Bulgaria (officially - the Republic of Bulgaria) is located in South-Eastern Europe, on the Balkan Peninsula, on the Black Sea coast (eastern part). The country is a member of the European Union and NATO. Climate: on the coast - Mediterranean, the rest of the country - continental.

The main sectors of the economy: transport (land, water, air, and pipeline), energy, mining, light industry and tourism. The country has 30 universities, 13 specialized higher schools and 8 colleges, many historical and natural attractions.

The real estate market in Bulgaria

In the post-pandemic period, the sale of real estate in Bulgaria has not only stabilized, but is also developing, demand is growing due to foreign investors - citizens of Western Europe, apartments in resort areas are focused on buyers from Russia and the CIS countries. The Bulgarians themselves are also willing to invest mainly in new buildings, considering such an investment as a reliable and profitable asset (renting, resale), since the rates on bank deposits are low.

There is a lack of supply in new residential areas, because the rise in the cost of building materials has led to an increase in the cost of construction, and developers are suspending projects. The primary property complies with European building standards, which is confirmed by customer reviews.

The choice of objects in the secondary market is quite diverse. Investors are increasingly attracted to houses in the countryside, but not far from the city.

Due to inflationary expectations, interest has also arisen in commercial facilities: the trend includes retail spaces, coworking areas, and theme parks.

Property price in Bulgaria

The cost of real estate in Bulgaria is growing, and to the greatest extent in the cities: Varna, Burgas, Sofia, and Plovdiv. However, the cost per square meter, even in the most prestigious regions, is much lower than the cost of similar real estate in Central Europe. Experts point out that residential real estate in Bulgaria has a particularly strong tendency to rise in price.

Estimated prices per sq. m, for example, in Burgas:

• apartments in a new building (turnkey condition) - from 700 USD,
• apartments in the secondary market - 885 USD,
• detached houses - 500 USD,
• commercial premises - from 600 USD,
• land plot for development - from 60 USD.

Property types for sale

Property in Bulgaria is divided into:

• apartments in the new buildings and secondary housing stock,
• commercial real estate (production complexes, hotels, shops, offices, spa, warehouses, etc.),
• private houses with land plots,
• villas (in the resort area),
• land plots (for agriculture, industrial purposes, and for construction of residential facilities).

 Real estate website in Bulgaria

It is safer to use the information of experts and to follow their recommendations. GEOLN.COM real estate website (with a convenient search interface) contains a full catalog of real estate in Bulgaria.

Buying property in Bulgaria by foreigners (nuances)

According to the current Bulgarian legislation, foreign investors do not have the right to acquire land, except for the registration of ownership of a legal entity - a company opened in Bulgaria. An individual foreigner can only rent a land plot for any period.

Should be considered:

• when buying in the outback, please consider the remoteness factor, since the infrastructure is quite developed in large cities and resort areas (during the season);
• the total area of the apartment includes parts of the common areas (stairwells and elevator), terraces, the thickness of external walls.

Buying property in Bulgaria is beneficial for stable income generation (from renting or resale), living in a European country, and relaxing on the Black Sea coast.