Guide to Buying Property in Bulgaria

Overview

Successfully looking for Real Estate in Bulgaria

As it emerges from years of semi-isolation behind the infamous Iron Curtain, Bulgaria is becoming a more and more attractive place for foreign nationals to make investments of different types in the real estate market. (With that said, and as will be discussed thoroughly later, a foreign national cannot presently directly own real estate in Bulgaria. The prohibition against direct ownership should be changed within the coming decade. And, in the interim, there are ways in which a foreign national can take title to real estate in a more indirect manner — which will also be discussed in detail shortly.)

Presently, the biggest demand made by foreigners when it comes to real estate in Bulgaria involves residential property. Many Europeans and individuals from some other countries around the world are buying Bulgarian residential property to establish holiday or vacation retreats.

Additionally, more and more savvy investors from different countries around the world are becoming more involved in the ownership of business or commercial real estate in some of the major cities in Bulgaria, most particularly in Sofia, the Bulgarian capital and Varna on the coastal regions of the Black Sea

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Population: 7.97mCurrency: Bulgarian Lev Capital:Sofia Flag of BulgariaFlag of the European Union

Investment Property in Bulgaria

As mentioned, more and more international investors are putting money into real estate in Bulgaria for investment purposes. For example, these investors are buying real estate that is being developed for business and commercial purposes — especially in and around Sofia. (Once again, an investor needs to keep in mind that a foreign national cannot own real estate directly in Bulgaria at this time. Again, there are mechanisms available to deal with this prohibition that will be presented and discussed later.)

Another area in which foreign investors are becoming more active is in the purchasing of apartments or apartment complexes which are then being rented and leased to the influx of people that have taken to coming to Bulgaria to participate in the burgeoning economy of that country since it has become more fully integrated into the overall European community of nations.

By Haadi