Why buy property in Bulgaria
There is no doubt that the entry of Bulgaria into the E.U in 2007, boosted the growth potential of real estate sales in the country and increased prices dramatically, yet still kept prices below most other European countries.
Bulgaria property development is truly the fastest growing real estate market in Europe, particularly in the ski resort areas of Bansko, Borovets, and Pamporovo, which offer everything from world class skiing and snowboarding to cross country skiing, giant slalom, and biathlon courses. Bulgarian inland properties are extremely cheap compared to the rest of eastern Europe.
The cheap Bulgarian property market attracts many investors from all over the world. The prices of apartments and houses in Bulgaria have substantially risen over the last years, and still the rates are times lower compared to all European Union countries. Bulgaria offers great climate, both sea and ski tourism and that is why an increasing number of British, US, Greek, Belgian and Italian citizens are attracted by the wide variety of properties available in Bulgaria.
People buy properties in Bulgaria both for personal use and investment purposes. Presently, the biggest demand made by foreigners when it comes to real estate in Bulgaria involves residential property. Many Europeans and individuals from some other countries around the world are buying Bulgarian property to establish holiday or vacation retreats.
Additionally, more and more savvy investors from different countries around the world are becoming more involved in the ownership of business or commercial real estate in some of the major cities in Bulgaria, most particularly property in Sofia, the Bulgarian capital and Varna on the coastal regions of the Black Sea.