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Bulgarian Property & Real Estate News

Buying property in Bulgaria looking more appealing

Demand for properties across Europe has increased dramatically according to the latest stats from UK property search websites.

With the recent strength of sterling it makes it a good time to buy property in euro currency countries. Bulgaria which has its currency fixed to the euro is also benefiting from this trend.  Just last year a €100,000 property in Bulgaria would have cost around £91,000, but today the exact same property can be purchased for just £80,000, resulting in a substantial saving for buyers using sterling.

Of course this phenomenon is not reserved just from Bulgarian properties. It is also the case that property in Spain and France are now cheaper for UK buyers due to the weakness in the euro zone. One needs to thread carefully however as not all European markets are at the same stage of the property price life cycle.

Bulgarian property prices for example have dropped over 50% in many areas since 2008 and in some places drops as high as 70% have been seen. However the drops stopped in 2011 as prices reached fair value. In many cases properties in Bulgaria are selling below the cost of replacement. This makes it an ideal time to invest in Bulgarian properties. The price drops have leveled out and properties cannot be constructed at these price levels. This means as soon as the current supply of properties has been sold prices will have to start rising again to accommodate the increased construction costs.

The situation is not the same in France and Spain however. On the French market there has been limited price drops over the last 3-4 years. Prices have held up well but are now looking very overpriced. Recent research form the Economist indicates that French property prices are now overvalued by almost 50%.

In Spain priced have indeed decreased over the last 2-3 years but are still over valued by up to 30% according to the Economist’s report. This means it is still not the time to buy property in Spain as there is a high chance of further price drops over the coming years.

It seems if you are looking for a stable market where price drops have already occurred and property prices have reached fair value levels then you need to strongly consider buying property in Bulgaria. Look to purchase at prices close to the cost of construction as this will give you the best chances of future property price growth. With the current strength of sterling if you are buying with pounds then you will get an even better deal.

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Bulgarian properties for sale online

Given the numerous opportunities that the real estate market affords investors currently, it is no wonder that there has been a lot of interest and increasing inflows of capital into the market. People are taking advantage of the numerous opportunities, be it to make money in the process to buy a home in the country at affordable rates. One of the avenues that investors use in order to take advantage of the many opportunities to sell and to buy Bulgarian properties is the internet.

This is mainly because people are realizing the many benefits that come with using the internet for business. With the advances made in technology and the improvement of online security services, it has become convenient and effective for one to search for Bulgarian properties for sale online. One of the major reasons why people prefer to do this is the fact that it affords them a lot of convenience in buying property for sale in Bulgaria. This is so because one does not need to travel the whole country in search for property to buy, especially in the current existing conditions. All that one has to do is to scroll through the various properties and then decide on which ones he or she wants to specifically physically inspect. This saves a lot of time especially when it comes to transport costs which one would have spent traversing the country in a bid to buy Bulgarian property. Read more…

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Property in Bulgaria – things to consider if buying Bulgarian properties

The current real estate market in Bulgaria is very promising and has a lot of business opportunities for one to make a lot of money. Bulgarian properties are at their lowest price level in many years making this an ideal time to invest. Whether it is in terms of long term investments where one wants to keep the Bulgarian properties for a long period of time before deciding whether to sell it or where one wants to find property in Bulgaria for the sake of developing it and then selling it after a short while. For both types of investors, a key thing that they should keep in mind is that as long as making a profit is their key concern, the type of properties in Bulgaria that they settle for and the prices that they choose to buy property in Bulgaria. In addition to the low prices and excellent opportunities for investing in Bulgaria, the Bulgarian law regarding property ownership has recently changed to allow foreigners to purchase Bulgarian properties in their own name and provides additional protection for the buyers. We will write more about these changes to the ownership laws in a future update but for now you can be confident that the process for buying Bulgarian properties has been much more streamlined.

The first question that any person should ask himself or herself has to do with the type of property that the particular person wants. This is because there are various types of property in Bulgaria and thus one should be sure of what he or she really wants. The decision on which properties in Bulgaria one wants should be based on the particular investor’s needs and liking. He or she will have to consider the purpose for which the piece of real estate that he intends to buy will be put to use. This will also depend on the particular business that the person is involved in. People who mainly deal in apartments will look for apartment properties on sale, while those who specialize in trading in home real estate properties and who believe the current market for Bulgarian properties is favorable for such, he or she will have to look for real estate that has been designed as a home. Read more…

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Bulgarian Real Estate 2012 – market advice

The Bulgaria real estate industry currently has a lot of investment opportunities which many investors are rushing to take advantage of. This is especially so given the recent steps the industry has made in ensuring that the service delivery and transactions in the sector are streamlined. The regulations have over the years been streamlined, removing any unnecessary bureaucratic requirements while putting in place ones which ensure that a person seeking to buy Bulgarian real estate is well protected and encounters no obstacles in acquiring Bulgaria property. Having decreased over the last 2 to 3 years investment in property in Bulgaria is once again picking up.

The March 2012 market data from the National Statistics Institute in Sofia revealed that activity in the construction sector increased almost 2% over the February figure. In the civil engineering sector the increase was even greater and reached over 3% growth. The Bulgarian Economic ministry points to the data indicating an increase in demand for real estate from overseas as well as a surge in local demand recently. Credit conditions have improved recently and local Bulgarians are gradually dipping their toes back in the property market.

While exports have decreased marginally in the January-February 2012 period the reduction in GDP has been offset by a surge in tourist numbers. An increase in tourists from Greece and Russia has resulted in a record winter tourist season. Local hoteliers and tourist companies are gearing up for a busy summer as tourist numbers are expected to grow across the country. Over 1.5 million tourists are expected from Romania according to the latest information from the Institute for Tourism. This reflects an over 10% increase on the previous year. Read more…

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Ski property for sale – things to consider when buying ski property

More and more people are now taking winter sports holidays and the demand for good quality rental accommodation is growing consistently. This offers a good opportunity for owners of ski properties to reap huge financial returns for their smart investments. These handsome returns are a source of great attraction for many players seeking to enter the market and get its share of success. However there are some factors that such an investor must take into consideration before taking the plunge.

First and foremost an investor must seek to dig his or her money in a venture that would attract returns. Thus the investor should enquire into how frequent the ski property would be rented. This is an important aspect of the business because without customers renting the ski property, the investment would be meaningless. The investor needs to ask himself questions such as, how many people are willing to rent ski apartments. Would a ski resort attract a bigger clientele?

An investor should also put into consideration other activities that can be done in the ski property or around it apart from skiing. This is because most skiing happens during winter and thus the facility should be made for some other use during warmer seasons. The physical landscape around skiing facilities is usually stunning during summer and thus attracts guests who are into fishing, water rafting, and mountain climbing and so on. Thus location of the ski property for sale, be it a ski apartment or a ski resort should offer many outdoor activities. Read more…

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