Bulgaria Information

With the surge in the real estate market in Bulgaria, this is the prime time to purchase overseas investment property in this country. The numbers of British tourists that visit Bulgaria is increasing every year and many of these visitors decide to buy foreign property here so that they can come back whenever they wish. The property offered for sale in this country such as holiday villas, houses and apartments provide excellent return on your money. When you combine this with the spectacular scenery that greets you at every turn, you have the best of both worlds.

The people of Bulgaria are both open-minded and welcoming. For many years, the property in this country has been one of the best-kept secrets of Europe. However, this is changing rather quickly as investors see the quality of real estate available in this country. This is a quiet and rural country located in the Southeastern part of Europe, which is only about the size of England. It has a population of about 8 million people. The mountains, beaches and old-fashioned villages offer a glimpse of Europe that has long since disappeared from many areas.

Considering the long-term prospects for the economy of Bulgaria, purchasing an investment property here makes good financial sense. You can actually buy a seaside villa for about £35,000 and rural properties often sell for less than that. Investment Homes Abroad can offer you a holiday or retirement home in various locations throughout the country - coastal and ski resorts, in cities or in the rural areas. When Bulgaria joins the EU in 2007, the property here will be in demand even more than it is now and the prices are destined to rise.

In Bulgaria, there is no problem with foreigners buying homes. However, foreigners cannot buy land in this country. It is expected that this restriction will lift in 2007. The most common method of buying a home is to set up a company, but this is not necessary. The buyer and the seller usually split the estate agent's fee 50/50 and this is usually 6% of the purchase price. There are English-speaking lawyers available that will draw up the contract for you and handle the legal work, such as checking the title of the property, arranging for the notary. Legal costs amount to about 5% of the purchase price and you do have to pay this in full when you sign the final documents.

If you are interested in buying property in Bulgaria where you can spend your holidays and then rent out the property to other travellers, then there are certain locations where you can take advantage of the coming boom in the tourist trade. These include the ski resorts of Bansko, Varna on the Black Sea and Sunny Beach. An example of the cost of buying a home in Sunny Beach is £16,850 for a studio apartment.

The summers are generally longer and there are popular winter resorts as well. Although winters are only short, they can be severe, so this is a time when you might want to return to the UK, unless you really love winter sports. Along the Black Sea Coast of the country, there is rarely snow in winter and for about five months of the year, the temperatures are above 25°C.

If you plan to spend longer than 30 days at a time in Bulgaria, you will need to apply for a long-term visa. You can do this at the Bulgarian Consular service in London and since this process is quite relaxed between the UK and Bulgaria, it won't be a difficult one. There are direct international flights to Sofia and Varna all during the year. Charter flights to the Black Sea region operate during the summer months.

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