Foreigners’ Interest to Purchase Property in Bulgaria as an Investment is Returning

The foreign buyers’ interest towards real estate in major cities in Bulgaria as an investment is returning. Combined with the trend in bank crediting, this factor positively affects the real estate market. That said Polina Stoykova from Bulgarian Properties live on Bloomberg TV Bulgaria.

According to her, buyers from the UK are currently on standby.

"it is like that already during the past year since it became clear that there would be Brexit. I would like to clarify that they are not on stand-by mode for holiday properties in Bulgaria only, but this also applies to other member states of the European Union (EU)" pointed out Stoykova.

According to her, approximately 10% of the transactions of the company are with UK customers and the Brits are no longer among the top buyers in Bulgaria.

"Over the past 2-3 years most of our foreign clients come from Russia and throughout the EU, but the market is already highly diversified, so there is no way to name just one or two countries with the strongest interest in buying property in Bulgaria" added the expert.

According to Stoykova, there are properties with very attractive prices in the Bulgarian resorts and home buyers are increasingly looking to purchase a holiday home, she said. The secondary market is now much more attractive, as there are many good offers, starting at 15,000 Euros, said the expert.

"For the first three months of the year, the property purchases in Sunny Beach by Bulgarian citizens reach 30 percent," she said.

Stoykova commented that the base for residential property prices in Sofia is 1000 Euro per square meter. She added that all indications suggest that this will be a sustainable basis.

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