by FSBO 
If you’re looking to sell property in Bulgaria, then you might be interested in reading this article. We tell you exactly what to expect from the Bulgarian property market this year.
The Bulgarian property market has been on a steady rise in recent years, with prices increasing by an average of 10% per year. This growth is being driven by a number of factors, including:
- A strong economy: Bulgaria has one of the fastest-growing economies in Europe, with GDP growth averaging 3% per year over the past decade. This has led to an increase in disposable income, which has boosted demand for property.
- A favorable investment climate: Bulgaria has a number of factors that make it an attractive investment destination, including:
- A stable political environment
- A low tax rate
- A favorable exchange rate
- A skilled workforce
- A strategic location in the heart of Europe
- A growing tourism industry: Bulgaria is a popular tourist destination, with over 10 million visitors each year. This has led to an increase in demand for property in tourist areas, such as the Black Sea coast and the ski resorts.
As a result of these factors, the Bulgarian property market is now one of the most attractive in Europe. Investors from all over the world are looking to Bulgaria to buy property, and most of them are coming from Europe.
The majority of investors are looking to buy property in the capital city of Sofia, which is the economic and cultural center of Bulgaria. Sofia is a vibrant city with a rich history and culture, and it offers a high standard of living. Other popular investment destinations include the Black Sea coast, the ski resorts, and the second largest city of Plovdiv.
The Bulgarian property market is still relatively young, and it is expected to continue to grow in the coming years. This growth will be driven by the continued economic growth of Bulgaria, the favorable investment climate, and the growing tourism industry.
If you are looking for an investment opportunity with strong growth potential, then Bulgaria is a great option. The country has a lot to offer investors, and the property market is still in its early stages of development. With careful planning, you can make a significant profit by investing in Bulgarian property.
Here are some of the benefits of investing in Bulgarian property:
- Affordable prices: Bulgarian property prices are still relatively affordable, compared to other European countries. This makes it a great option for investors who are looking for a good value for their money.
- Strong growth potential: The Bulgarian economy is growing rapidly, and this is expected to boost demand for property in the coming years. This means that you can expect to see good capital growth if you invest in Bulgarian property now.
- Favorable investment climate: Bulgaria has a number of factors that make it an attractive investment destination, including:
- A stable political environment
- A low tax rate
- A favorable exchange rate
- A skilled workforce
- A strategic location in the heart of Europe
- Growing tourism industry: Bulgaria is a popular tourist destination, and this is expected to continue to grow in the coming years. This means that there is a strong demand for property in tourist areas, such as the Black Sea coast and the ski resorts.
Well, if you’re in Bulgaria right now, you will have noticed that this is a country on the move. The Bulgarian economy has been doing very well, as a majority of the Bulgarian population reaches middle class status.
Remember, this was once one of the poorest countries in Europe back in the 1990s, when the Iron Curtain of communism was first removed. Bulgaria has come a long way since then. It is a middle income country these days with one of the fastest growing tourist economies in Europe.
Over 8 million foreign tourists visited Bulgaria in 2021 and close to 10 million in 2022. This goes to show that the “dark secret of Europe” is not a secret anymore and has become the hub of tourism in the region.
While there is a lot of interest in Bulgaria from foreign investors, the biggest buyers of properties remain the locals. Locals have a higher buying power than ever before because of fast rising incomes.
Property investment is considered to the safest way to spend money in Bulgaria compared to investing in the stock market or parking money in banks.
That’s why, even if things take a turn for the worse with the economy, the property market here will always do well, and is insulated from the ups and downs of the economy.
Home prices in Sofia have gone up by 10% to 15% last year and have reached 1,000 Euro per sq. meter. But it’s not just Sofia, the capital of Bulgaria that has been doing well.
The best news in the property market comes from ski resorts such as Bansko, where home prices have gone up by a record 30%. Also doing well are other ski resorts such as Borovets and Pamporovo.
The most exciting has been the Sunny Beach area. Sunny Beach has emerged as the best beach resort in Eastern Europe. Every summer, hundreds of thousands of foreign tourists flock to this area.
The story is that the rapid rise in home prices in Bulgaria is likely to slow down a bit, which is actually healthy for the property market.
It is never a good thing when property prices go up so fast so soon. A slight blip now and then can help keep things in check and prevent the market from boiling over leading to a bubble.
Bulgaria has a healthy property market, not a bubble. Home prices here are still very reasonable. Owning a property in Bulgaria allows you to earn a decent rental income, which means it is a valuable investment and not just a speculative one.
You’re welcome to contact us if you would like to know more about buying or selling property in Bulgaria.
