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Bulgarian Property & Real Estate News

Apartments in Bulgaria – new procedures for foreigners buying Bulgarian apartments

Investing in real property is one of the oldest and safest ways of investing hard earned money. It is important that you invest at the right time and price. Now is the time to consider investing in Bulgaria as prices are at record lows. More and more people are yearning to own a piece of land in Bulgaria. This is usually by owning apartments in Bulgaria. Bulgaria is known as a great tourist destination. It is known for its historic importance and its scenic landscape.  Bulgaria also attracts many investors because there are many cheap Bulgarian apartments for sale. Apartments in Bulgaria have the potential of high returns for investors as they can be leased out to the many holiday makers in the country. Due to the increase in demand many property developers are moving towards developing properties in the form of apartments.

However despite the increase in demand for apartments in Bulgaria, a great deal of potential investors, are barely informed of the procedural law involved in buying apartments in Bulgaria. This article seeks to shed some light into the procedure of acquiring Bulgarian apartments for sale. The procedure for acquiring an apartment property in Bulgaria is a simple and straight forward one. First and foremost it is important that every foreigner should know that the Bulgarian law allows foreigners to own buildings in Bulgaria but until recently foreigners were not allowed to own Bulgarian land. However this law has changed since Bulgaria joined the EU and now in 2012 it the possible for foreigners to buy land in Bulgaria without setting up a company. This is an important new fact that makes it much easier and securer to buy apartments in Bulgaria.

Previously when a person identifies apartments for sale in Bulgaria, he or she should then proceed to seek an appointment to inspect the apartments he or she is interested in. When the potential buyer has inspected the apartment and is satisfied that it is in good condition and meets his taste and desired property, the purchaser then has to determine whether he or she wishes to purchase the property with or without land. The procedure to be followed and costs incurred differ depending on whether land is part of the sale. Read more…

Bulgaria Property market 2012

Slightly more positive news is beginning to emerge from the Bulgaria property sector. Recent reports from several local real estate agents indicate that the is still life in the Bulgaria property market. Despite a difficult 3-4 years which saw a Bulgaria property crash due to over investment in several areas, local real estate agents Bulgarian Properties and Yavlena are predicting a better future for the Bulgaria property market.

Lately the Yavlena estate agency has reported that transaction level are up significantly in 2012 and investment deals have reached over €200 million. Recent sales show that Bulgaria property prices have stablised and are now beginning to over good value when yields and rental returns are considered.

The Bulgarian Properties agency has noted that higher end properties are doing better. During 2011 Bulgarian property prices continued to decline for lower end properties however the market for more exclusive luxury properties as held up better. In this sector of the Bulgaria property market the prices appear to have stabilized largely because there is a limited supply of suitable properties. In their recent Bulgaria real estate price reports they noted that properties in Bansko continue to decline due to oversupply in that area while chalets in Borovets and properties in Borovets ski resort are proving more resilient due to less supply and better quality.

The market of course has not returned to the glory days of 2008 when investors from all over Europe were clamoring to buy Bulgaria property. During the period 2003 to 2009 many overseas property investors considered Bulgarian property to be one of the investment hotspots in Eastern Europe. However when the global credit crisis hit in 2008 this had the effect of sucking a lot of cheap credit out the Bulgaria property market and thus effecting the price of Bulgarian properties for sale. Read more…

Bulgarian Properties for sale – 2012

Interest in Bulgarian property is again rising following several years of prices falls. Over the last 3 years prices for Bulgarian properties for sale and real estate sales have dropped about 35% over all. Prices falls have been higher in some areas but lower in others. Generally prices have held up better in areas with less supply. Investing in Bulgaria property is also becoming safer. Now a member of the EU a recent global report shows that property rights within Bulgaria are now on a par with other popular investments locations. Investors in Bulgarian real estate can be comfortable in the knowledge that they are protected by robust European laws. The Property Right Report highlighted that buying property in Bulgaria 2012 is now the safest it has ever been.

Bulgarian real estate agents are once again positive about the prospects for the real estate market in their country. A recent interview with the leading broker Bulgarian Properties shows that they are gradually seeing the return of foreign investors in Bulgaria. They highlight the Borovets ski resort as an area that is seeing increased demand at present. Despite falls of about 20% in the average price of Borovets property, buyers are again showing interest in the ski resort and snapping up properties and prices unlikely to be seen again soon. The prices for Borovets apartments now range from 550-1,100 euros per m2 down from 900-1,700 euros per m2 just 3 years at. At the current price levels finished apartment in Borovets are now cheaper than the construction costs reports Ms Stokova. Read more…

Bulgaria apartments – advice when buying

In Bulgaria like any other country many people stay in rented apartments before they can afford to buy their own. After living for some time in rented apartments one may decide to buy their own so that they stop paying rent. Bulgarian apartments are considerably cheaper than other apartments all over Europe and many people today are investing in Bulgaria apartments for sale. There are several factors that should be considered before one can buy Bulgarian apartments, which are discussed in this article.

First one needs to decide on the area they would want to buy the apartment. This may involve a lot of research in the area or the research can still be done at home. The reason for this is to find cheap Bulgaria apartments. The price of an apartment depends on the area on which it is located.  Bulgaria apartments are found in classy areas as well as ordinary areas and one can chose the apartments they want to buy. It is advisable that one researches the market to confirm that they are getting the value for money. Advice can be sought from independent valuers and real estate agents. It is highly discouraged to seek advice just from developers or their agents because such advice would lack objectivity. Advice from an independent valuer is very important especially when one is buying unfinished apartments to make sure that the value for the money is realised.

If one wants to buy Bulgaria apartments they should visit as many places as possible to find the property that suits them. In Bulgaria there are many places to invest in apartments. One can choose from a modern city apartment in Sofia, the capital of Bulgaria or beach apartments on the Black Sea or even a ski property such as a Borovets apartment. Visiting many places equips someone with important knowledge that can be used in determining which Bulgarian apartments to buy. After identifying attractive apartments one should confirm that the desired facilities are available in the apartments. One may require a gym, a shop or a park and if they are absent, then there would be no pleasure in buying such an apartment. Read more…

Foreign Investments continue in Bulgaria Properties

It is every country’s wish to have an increasing number of foreign investors choosing their country as the choice destination for their various investment endeavors. Every country tries to encourage this by use of various incentives such as tax advantages extended to investors in addition to increasing the flow of investments. This is so mainly because most countries realize the benefits that come with increased investments.

Bulgaria has managed to provide an ample environment for investors and thus making it possible for investors interested in buying Bulgaria Properties to easily carry out their transactions. This, the government of Bulgaria has been able to achieve in recent years through the simplification of the various requirements and procedures that are mandatory for one to comply with before being allowed to invest in Bulgaria properties for sale. This simplification of requirements has significantly reduced the cost and time required for people to get to own Bulgaria properties, thus making the country very attractive to foreign investors. The reduction of income and corporate taxes to just 10% has also greatly encouraged investments in Bulgaria

The country has worked to improve transparency in the Bulgaria properties market, and this level of predictability has also added to its allure as a target for foreign investors to buy Bulgaria properties for sale. Several new laws were passed in 2011, aimed at improving the quality of Bulgarian real estate agents and introducing better controls within the real estate sector. The increase in the level of investments has seen various developments in the whole economy of the country as it has meant that there are more capital inflows. This has led to the consistent developments of other sectors of the economy in the country. The buildup of infrastructure, spurred by both the increasing money flow in the country and the country’s need to boost the Bulgaria property sales has also led to increasing economical activities in other sectors as the environment in the country is being made better and better. Read more…

Buying Property in Bulgaria – consider your real estate agent

One of the wisest investments that any person can do is to buy property. This is because when done properly, it can be a constant flow of money, while also allowing you to enjoy many financial facilities such as loans. This, many people know and it is one of the reasons why property in Bulgaria is in so much demand, which seems to be increasing as time goes by. Because of this, it is not surprising that recent reports on the property values in the country are indicating that the cost of buying Bulgarian properties has been constantly increasing over the past decade.

However, the process of going about the whole process of looking for property in Bulgaria and then thereafter negotiating for better prices for the property and dealing with the subsequent legal demands placed on a buyer of Bulgaria property for sale can be very demanding. This is mainly because of the fact that there are many things that one will need to comply with before any particular Bulgarian property finally becomes his or hers.

When it comes to Bulgarian properties, most people prefer to go to a broker to help out with the whole process of purchasing property in Bulgaria. This is because many people are not usually familiar with the real estate jargon that is prone to be used when concluding deals involving Bulgarian properties. Use of a broker in most cases usually makes it easier on the buyer of the property and thus in essence saving him or her valuable time with which he or she could use in doing more productive things. It also usually ensures that the whole transaction is completed in ample time because of the fact that the broker will most likely have a great network of contacts which can help in fast tracking the whole process of buying Bulgarian property. Read more…

Bulgarian properties for sale – look online for the best bargains

The Bulgarian real estate industry has made major leaps in terms of investments and provision of infrastructure to make dealings in real estate not only more transparent, but also efficient and effective. This is one of the reasons for the continued increase in the amount of foreign investments flowing into the country. One of the things that have spurred the growth in the real estate industry is the availability of most of the companies and agencies dealing in Bulgarian properties for sale online. This makes it very easy for investors, both local and international, to easily get information on the available pieces of real estate and the various prices with which they can be able to get to own properties for sale in Bulgaria.

However, this does not mean that the fact that one uses the online services that are available to an investor or to a seller that he or she is guaranteed to get better deals as opposed to the ones who do not. Using online services can be disastrous for an investor if one does not go about the process of looking for Bulgarian properties for sale, properly. He or she might easily fall to the many fraudsters in the internet or may end up overpaying for any property for sale in Bulgaria.

One of the things that one has to do is to ensure that the site he chooses as a base for his online investment activities has a good reputation. This is essential especially considering the fact that there are many fake sites on the web that purport to carry out Bulgarian property sales but which actually are not. These sites are usually designed to con many unsuspecting investors and thus one should be wary when going online. It is always important to remember that the fact that a site exists on the internet does not mean that it is safe. One should also look at the paying system available and security guarantees that the particular site offers so as to ensure that all his or her financial and private date is safe. Read more…

If you are looking for Bulgarian real estate or off plan property in Borovets look no further than Concept Bulgaria.
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