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Sale Of Real Property In Bulgaria

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Bulgaria has for many years been an absolute leader in the number of requests for housing from Russians. The main reason for the popularity of Bulgarian real estate is its low cost, which has recently become even lower. In particular, over the past four years Real property prices in Bulgaria dropped by 40 per cent on the 2008 peak.

In addition, the transport accessibility of Bulgaria, the long-standing cultural and historical links and the wide dissemination of Russian language in the resort areas are important factors for Russians.

Procurement characteristics

Russians are free to buy apartments in Bulgaria, but the purchase of houses with a land area of Russian is only possible for a legal person. In the latter case, maintenance costs are added to housing costs.

The real property tax in Bulgaria is relatively low, which is also one of the advantages of the Bulgarian market.

Popular resorts and prices

The highest demand is for real property in Bulgaria ' s Black Sea resorts: Burgas, Sunny Bereg, St. Vlas, Pomoria, Sozopole and others. Some of the cheapest proposals can be found in the Varna area on the northern Bulgarian Black Sea coast. For example, prices for two-room apartments start from Euro20,000, a separate house in the suburb of Varna can be purchased for Euro50,000 to Euro60,000.

In addition to the coast, there is a demand for housing on Pampovo and Bansco mining resorts. A small studio in Bansco, where the World Cup on Mining Sports is under way, can be purchased for Euro10,000.

Bulgaria has many palneological resorts, such as Velingrad, Sandanski, where thousands of people come to treatment every year. Mineral sources are rich and Black Sea resorts Pomorie and Alben, as well as the Bulgarian Marine capital, Varna.

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