What type of property should you invest in Bulgaria?

Bulgaria is a good country for investment. With a relatively low cost of housing, Bulgaria has great leisure potential, moreover, since 2007 it is a member of the European Union. Any foreigner can buy apartments in Bulgaria freely, but there are some pitfalls here, which we will talk about in this article. We will also discuss what type of real estate you should buy in Bulgaria.

Quite a popular type of real estate among foreigners. This is the easiest way to buy an investment property in Bulgaria. Tourist complexes with rooms are usually built right next to the sea. Hearing the waves directly from the bedroom window is definitely a tempting option. Often the rooms have not only A room, a balcony, but also a kitchenette, and in your absence, the hotel staff will take care of the room, which saves a lot of energy and free time. Now the market is already saturated, so it can be problematic to attract tourists In addition, in such hotels, as a rule, there is no heating, so you can relax there at most 4-5 months a year, and you have to pay a fixed amount to the hotel management every month.

Bulgaria is a good place to buy property and among foreigners there is a steady demand for apartments. You can live there all year round and/or rent the property. The whole process of drawing up the sales contract is very simple. There are many different options on the market for every taste and budget. In recent years, apartments in the north of the country have become more expensive, while in the south, on the contrary, they have decreased slightly. For a penthouse in the capital Sofia they can ask for 800,000 euros. A spacious apartment in Sofia or the large coastal city of Varna will cost around 400,000 euros, while a picturesque apartment in the main tourist center of Burgas will cost around 200,000 euros. These are slightly more modest properties, but if you look deeper, there are even more lucrative options.

A cozy house surrounded by a garden or a luxurious villa with a swimming pool - everything you want is sold in Bulgaria. But here it all depends on who can invest in Bulgarian real estate. Hotel rooms and apartments are freely sold to foreigners, but only Bulgarians or people with a Bulgarian residence permit can buy houses with adjoining land plots. If you still want to become a happy home owner in Bulgaria, there are two ways :

Buy luxury real estate. When buying a property worth at least 300,000 euros, foreigners are issued a residence permit.

Register a company in Israel. It will require some time and effort on your part, but not as much as it might seem at first glance. The firm may not generate income and its activity may be only nominal, so you can use its activity for investing in assets only.

Another reason why the Bulgarian property market is so popular for investment is that if you have a limited budget, you can buy a luxury house within a 15-30 minute drive from the sea. It turns out to be an inexpensive purchase. Regular buses travel between popular destinations, for greater convenience, buy a car.

Many are interested in the question: "Can a foreigner get a mortgage in Bulgaria?". Indeed, if you don't have enough money for a dream house or apartment, it is possible. It is important to know that you will have to pay at least 30% of the cost of the property, and the rest can be borrowed. On average the interest rates are around 7%, although recently many banks have offered profitable offers at a rate of only 3%.