Tag Archives: Bulgaria real estate

Bulgaria Still in Top Ten on Britons’ Property Map – Overseas Portal

Posted on by

BulgariaBulgaria is still preferred real estate market

Bulgaria is keeping its standing among the top ten most preferred real estate markets for overseas buyers, according to a new infographic released by TheMoveChannel.com.
The infographic, which is based upon the enquiries received by the overseas property portal in 2011, showed that 2.7% of all enquiries in December were directed at Bulgarian property, making the country the eighth most popular property destination.

Bulgaria return in top 10 overseas property market for Britons

The news about Britons’ revived interest in Bulgarian property and the country’s return to the overseas property portal’s top ten for the first time in three years broke in the summer last year.
The portal’s director Dan Johnson commented that Bulgaria‘s real estate sales have been improving all year, with buyers attracted by exceptionally low prices for winter property. According to him it was no surprise that interest has increased.
The news however was derided by the Independent, which claimed it has filled some Britons with optimism.
“Perhaps it’s because Bulgaria is outside the eurozone and is relatively cheap that it’s on the way back into favour? But as far as Bulgarian property is concerned I’m reminded of the saying:
He argued that even before the financial crisis of 2008, it was clear that “there was something very positive with buying in Bulgaria“–

Value for money, and  the cheep cost of living make it a great place to spend those long Bulgarian summers

Second home in Bulgaria

Owning a second home abroad was once the preserve of the super-wealthy, but in the past decade a heady combination of TV property shows and cheap mortgages has convinced an estimated half a million Britons to buy their own place in the sun.
The value of UK-owned foreign property investments peaked at GBP 58 B in 2008, up from GBP 10 B in 2000.
Recently however British owners of second homes overseas, including Bulgaria, have been selling up due to falling rental income.

The Bulgarian Property – how cheap is right now? | Bulgaria

Posted on by

BulgariaBulgarian properties – hot to buy

Many people dream of owning a property abroad and in recent years Bulgaria became the hot spot to buy, after being thrust into the spot light by programs such as A Place in the Sun.

Five or six years ago, the British and Irish started coming en mass in search of Bulgarian property, looking for bargain Bulgarian real estate at rock bottom prices.

And indeed a few years ago you could easily pick up a Bulgarian property for four or five thousand Euros.

After a number of years of foreign investment in the Bulgarian real estate market is this still the case?

After the initial hype and exposure of Bulgarian real estate in various magazines and on numerous property program mes, thousands of British flocked to Bulgaria looking for cheap Bulgarian properties.

They would hop on a plane on Thursday, come to Bulgaria for a long weekend, view several rural Bulgarian houses and by the time they touched down again in the UK on Monday evening after a long weekend of property hunting in Bulgaria, they would be well on their way to becoming proud owners of a property in Bulgaria for less than the price of a car back home.

But the sudden influx of foreign buyers and foreign money led to an artificial boom in property prices.

Resorts such as Sunny Beach and Bansko were marketed as the best place for Bulgarian property investing and thousands upon thousands of new apartments were thrown up.

Local Bulgarians who had struggled to sell their old rural houses for 5000 levs suddenly discovered they could double or even triple their asking price over night to 5000 Euros and sell their Bulgarian property easily.

And prices crept up and up with 30 to 40% annual increase in selling prices for cheap Bulgarian houses.

By 2007 Bulgarian properties for sale for under 10,000 Euros were becoming scarce, except for in very rural or poor areas, not often frequented by foreign buyers.

Where as back in 2005 you could pick up a good solid 4 or 5 room Bulgarian house on a plot of 1000sqm with mountain views for 5000 Euros, by 2007 a similar Bulgarian property would set you back 10,000 to 15,000 Euros.

However, then the world recession hit and foreign buyers became less and less. Bulgarian real estate agents that had been able to simply change the Bulgarian lev sign to a Euro sign and sell half a dozen Bulgarian houses a week, were finding they were lucky to get a handful of inquiries a month.

Many British that had bought several Bulgarian property investments were struggling financially back in the UK and trying to offload their Bulgarian real estate.

Prices of the Bulgarian properties right now

Now in 2011 prices for Bulgarian property have on the whole dropped back to a more realistic amount and rural Bulgarian properties are priced at similar levels to in 2007.

This means that you can once again pick up a rural Bulgarian house in a large plot for around 5000 Euros.