Are you planning to sell your property in Bulgaria online? Bulgaria is considered by many to be Europe’s greatest secret. There isn’t much hype about Bulgaria in the overseas property market, but the smart investors know that there is a lot of money to be made here.
Bulgaria is the most affordable country in Europe. It is also the most stable property market in the continent. It has been ranked as the cheapest place to ski and the second cheapest holiday destination in 2016.
What’s notable is that Bulgaria has the lowest property prices in Europe. You can easily buy a nice apartment here for around €10,000, which is as low as it gets. Bulgaria’s neighbours – Greece and Turkey – both have a higher cost of property ownership. Properties in Greece are still more expensive than those in Bulgaria despite the economic crisis in that country.
For this reason, the smart investor in the overseas property market is looking at Bulgaria very seriously. The return on investment on a Bulgaria property is as high as it gets.
It’s easy to get to Bulgaria too. Bulgaria is well connected by flights to the UK, Ireland, Germany and other European countries. Ryanair, for example, has a daily service that connects Sofia and Stansted. The Bulgarian cities of Burgas and Varna are connected to the UK by flights as well.
Bulgaria has benefited from the weakness of the Euro. This has led to an increase in interest from overseas investors, especially those from Russia, and other former member states of the now defunct Soviet Union such as Ukraine, Moldova, Uzbekistan and Georgia.
The recent economic crisis in Russia has caused a slight drop in demand from Russian buyers. But the overall situation has not changed. Russians continue to be the biggest buyers of Bulgarian properties. Russians own over 40,000 apartments in Sunny Beach and over 500,000 properties across Bulgaria. Every second property transaction in Bulgaria involves a Russian, either as a buyer or as a seller.
There’s a lot of interest from British and Irish buyers as well. In fact, British and Irish buyers discovered Bulgaria in the early 2000s, when the country was first opened up for foreign investment. Bulgaria became more attractive as an overseas property destination after becoming a full-fledged member of the European Union in 2007.
Most British buyers in Bulgaria target the country’s Black Sea Coast. Properties in Sunny Beach, a popular beach resort close to Burgas, sell like hot cake.
Bansko is Bulgaria’s top winter destination, which is one of the cheapest ski resorts in Europe. There’s a lot of excitement over Bansko. Other Bulgarian ski resorts such as Pamporovo, Borovets and Vitosha find a plenty of takers as well. Property prices in Bulgaria’s ski resorts have nearly doubled over the last couple of years.
The typical apartment in Bansko costs between €20,000- €30,000, which is very reasonable compared to comparable properties in resorts in France and Switzerland. A penthouse in the heart of Bansko can be purchased for around €100,000 – which is very reasonable. In Pamporovo, apartments are available for €20,720 to €173,000. So there are plenty of opportunities available to those who have property for sale in Bulgaria.