Bulgaria Property Investment
Recent television coverage of the property market in Bulgaria in the UK and the prospect of Bulgaria joining the EU in 2007 has increased
the interest in Bulgaria investment property considerably with impressive gains being made in the last couple of years with an average 2003
increase of 23-28%, some areas increasing by 100%.
Why Buy Real Estate in Bulgaria?
 A
flourishing tourist industry, low property prices, beautiful countryside, historic towns and unchanged rural traditions. What more could
you want? How about a cost of living that makes Turkey look deadfully expensive expensive!?
The currency in Bulgaria is the Lev which is now linked to the Euro. Most major transactions such as the purchasing of apartments or property
in Bulgaria are done in Euros.
Some facts and figures about Bulgaria and property prices in Bulgaria
“Why would anybody want to invest there?”
• In 2003 the price per m2 of property in Bulgaria was €650, now it is around €1200 m2 and not slowing down.
• Rapidly becoming the most sought after area for investment in Europe. Property in Bulgaria is still some of the cheapest in Europe
and it is still possible to find well priced front line beach developments.
• 1,248,138 foreigners visited Bulgaria in the period January- May 2004.
• Bulgaria was tipped by Thomson’s 2004 Holiday Forecast as the new top destination.
• The diverse geography and climate in Bulgaria allows both ski and beach resorts and golf in becoming increasing popular here so
creating year round rental potental.
• The general cost of living in Bulgaria is one of the cheapest in Europe.
• Bulgaria is within 3 hours or less from the United Kingdom, Holland and Germany by plane.
• Bulgaria joined NATO in 2004 and is set to Join the EU in 2007
• Bulgaria is stable politcally. In 1999 the Bulgarian currency was tied to the German mark and subsequently the Euro, stabilising
the currency and allowing for economic growth.
• Planned route for Budget Airlines.
Property Prices in Bulgaria
Property prices in Bulgaria are considerably lower than those elsewhere in Europe. A brand new apartment right on the sea front in a popular
holiday town can currently be purchased for around £25,000 GBP (try getting that price in Spain!) with rural properties selling for even
less. 
There is a wide variety of properties available in Bulgaria from seaside apartmentsand villas to mountain chalets and country homes. We
are also able to source individual properties and land in Bulgaria via our bespoke property finders service.
Buying property in Bulgaria is a great investment as prices are steadily increasing and are set to go up considerably when Bulgaria joins
the EU.
The European Union is currently investing millions of pounds to help improve Bulgaria’s infrastructure (this is very visible on the Black
Sea Coast where the main Coastal road is being widened and re-surfaced to provide better access for the expected development of holiday
properties).
The conditions and guarantees for foreign investors in Bulgaria have generated excellent business opportunities and investment growth potential.
What are the laws on foriegners owning land or property in Bulgaria?
"Foreign nationals and foreign legal entities may acquire ownership title over buildings and limited ownership rights over
property in the Republic of Bulgaria. Foreign individuals cannot own land (this is a Constitutional prohibition). However, the
Foreign Investment Law removed the restrictions on acquisition of land by locally-registered companies with foreign participation.
By setting up or joining a company incorporated under the Bulgarian legislation foreign persons can acquire full land ownership
rights including ownership rights on agricultural land." From: Bulgaria Foreign Investment Agency
Buying Property in Bulgaria - What are the costs?
The following example is based on purchasing an apartment for £50,000. This will give you an idea of the
supplementary costs involved when buying a property in Bulgaria.
Property price: £50,000
- Legal costs: c. £300 (These apply if you choose to employ a lawyer to conduct checks)
- Country Tax (Stamp Duty): £1,000 (2% on Completion) included in the price on many developments
- Notary fees, translation fees: £250
- Furnishing, kitchen units and appliances c. £4,000 (1-bedroom apartment)
Property Taxes in Bulgaria depend on its price. The combined State and local taxes will usually be equivalent to c. 3.5% of the property
purchase price.
Can I get a mortgage on real estate in Bulgaria?
Finance used not be available to foreign nationals on property in Bulgaria but now PPI can help. More...
 
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