It is completely understandable why real estate in Bulgaria is popular among a wide variety of people: here you can meet IT “nomads”, retirees, and simply those who want to live in warmer countries for less money. This country in the south-east of Europe can boast of diverse landscapes: wonderful beaches, modern mountain ski resorts and active cities, including Sofia with its green boulevards, elegant architecture and great restaurants. And Bulgaria has excellent value for money, low living costs and affordable real estate prices. How to use all these advantages?
Can foreigners buy real estate in Bulgaria?
Citizens of the European Union (EU) can purchase land and real estate in Bulgaria under the same rules as citizens of this country. The rest have different restrictions. In particular, you may not buy real estate with land, such as a house with a garden or a building plot. However, this problem can be circumvented – to register a company in Bulgaria and buy land in its name. There is also a requirement to live in Bulgaria for at least five years before you are allowed to buy agricultural land.
If you have seriously decided to buy an apartment in Bulgaria, you should first understand why you need it:
- you intend to live there permanently;
- you want to go to Bulgaria to relax and live in a personal apartment/house;
- you intend to generate income from it.
A lot depends on the answer to this question, first of all the place where you will look for a suitable apartment. If you want to settle in Bulgaria permanently, it is better to choose real estate in Sofia or as close as possible to it. Other Bulgarian cities with a population of over 200,000 are Plovdiv, Varna and Burgas.
If you plan to go to Bulgaria to relax, it is worth visiting the country’s resorts – Sunny Beach and Sveti Vlas. However, it should be remembered that in the off-season, life in the resorts stops (some restaurants, cafes and shops are closed) and the number of people decreases significantly.
If you plan to invest in real estate with the goal of earning income, you should consider all of the above and choose accordingly where and how you want to earn.