Property in Bulgaria is one of the fastest growing assets in the country and in the world. In 2007 property prices in Bulgaria went up by about 30% placing the country among property price growth leaders on a global scale.
Bulgaria is a politically and economically stable country and it is an EU and NATO member. Bulgarian laws have been changed in accordance with the EU laws. Bulgaria has one of the most liberal foreign investment and tax laws in the region. In 2008 the Gross National Product in the country is expected to once again exceed 6% which is proof of the ongoing positive development of the economy. The unemployment rate is about 5%, the pensions increase, peoples incomes rise constantly. All these positive trends are proof that Bulgaria is going in the right direction. Currently, Bulgaria is still the EU country with the lowest prices of services and real estate. The prices of services and of labor in Bulgaria have the potential to increase until they reach the levels in the other EU countries.
The improved economic conditions, the political and economic stability in Bulgaria over the last 10 years brought to a real boom of the prices of property in Bulgaria. Another important factor for the rising property market is the huge tourism potential in our country. There are great natural attractions - high mountains, beautiful and clean Black Sea coast, preserved rural areas, minimum urbanisation, thousands of years of history, etc. Nowadays Bulgaria is considered to be one of the fastest growing tourism markets in Europe. This is something that foreign buyers of property in Bulgaria appreciate the most.
Bulgaria is an extremely attractive country for foreign investors due to some other factors as well. Most of the investors are attracted by:
the great variety of geographically different areas to suit all tastes;
the still low property prices;
the mild climate;
the low cost of living;
the hospitable Bulgarian people;
the chance to start a new life in a modernizing country with great opportunities.
Foreign investors can purchase property in Bulgaria directly or through a local company. Only Bulgarian-resident individuals and entities can own land, while non-residents personally may acquire only buildings. Therefore if foreign citizens want to invest in property in Bulgaria, they must register a Bulgaria based company (something that we fully assist with). As soon as the company is registered any property/properties in Bulgaria may be purchased on the company name. The most common type of organization for foreign investors is a limited liability company.
The law does not limit the extent or amount of foreign participation in companies. Foreign individuals and companies can open unlimited number of accounts in any Bulgarian banks, in any hard currency or the local Bulgarian Levs (BGN).
We, BULGARIAN PROPERTIES, are the leading real estate agent with rich experience and strong knowledge of the property market in Bulgaria. We offer a one-stop service for buying apartments, houses, land, offices, hotels or even businesses in Bulgaria, project management, loans, mortgages, property management and letting.
Our company website provides a daily-updated, easily searchable database of thousands of properties for sale and rent throughout Bulgaria as well as articles, news and analysis on the hottest topics for property investors.
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