Sunny Bulgaria with its mild climate and beautiful landscapes attracts many. If you like to relax on the coast of the country, then the best option would be to buy your own property. We buy property in Bulgaria together with our experts! We will talk about all the pitfalls and nuances of the transaction.
It is not enough to make a decision on the purchase of housing, it is necessary to take a responsible approach to the choice of the property, its location, and to study the legal aspects of the purchase.
Determine for yourself the purpose from which to invest money. The understanding will help filter out the most appropriate among a large number of proposals, and will significantly save the time of making your choice.
There are three types of goals for the purchase of the real estate, which affect the characteristics of real estate and the settlement in which it is located.
Goal number 1 — Living all year round. The housing fund of Bulgaria consists of two large groups. The first is real estate, which is located in cities and rural areas. In the second group will fall housing located in the resort area. The first group is an ideal option for year-round living, and apartments at the resort are suitable only for seasonal stays. Here, life boils only in the hot season. The off-season is a lull time for resorts when entertainment is closed, a large number of shops, many institutions do not work. In addition, resort settlements do not have a developed infrastructure, a sufficient number of schools, kindergartens, or hospitals. At the same time in the cities of Varna, Burgas, Nessebar, and others you will be comfortable all year round.
Goal number 2 — for the purchase of a real estate in Bulgaria — investments. The rise in the cost of housing in the country is steadily increasing, as is the rental yield. If you want to buy a house, hoping to increase its value in the market, then pay attention to Plovdiv, Sofia, Varna, and Burgas. Despite the fact that there are more well-known resorts in the country, real estate in a big city has the highest liquidity ratio.
If you intend to purchase a rental property, then you can consider the city and resort area. Pay attention to the location of properties. Such apartments should be located in close proximity to the sea, have a high level of comfort and well-developed infrastructure nearby. Comparing the areas of Bulgaria, it can be noted that real estate in Saint Vlas, Golden Sands or Sunny Beach has a higher level of profitability than objects of small settlements on the coast of the country.
Goal number 3 — buy property in Bulgaria for a family holiday. In this case, you should focus on your personal preferences. The small picturesque villages of Byala, Balchik, Elenite or Obzor will ensure a comfortable stay without unnecessary noise and a large flow of tourists. If you like a vibrant resort life, then pay attention to popular places to relax, for example, Sunny Beach or Golden Sands.
Demand in the country is enjoyed both by new buildings, second homes, and facilities under construction.
Prices for new housing are higher than in the secondary market, but in this case, it is possible to experiment with the design and find interesting layouts. Secondary housing has already established itself as a quality and time-tested solution. Here you can profitably purchase relatively new real estate of the 2000s at affordable prices.
Buying housing at the construction stage can significantly save you money. As the analysis shows, property at the stage of excavation are 15-30% lower than the ready-made housing. Despite the obvious benefits, not everyone is willing to invest in the stage of housing construction, afraid to end up with an unfair developer.
Another issue that needs to be addressed is whether to purchase a private house or choose an apartment. There are some restrictions on the purchase of a house in Bulgaria:
1. It is forbidden to foreigners, non-EU citizens to buy land in the country. The transaction is allowed for a legal entity, but then there are additional costs.
2. In the resort area, the private sector is located far from the sea, which can significantly worsen the impression of being on vacation.
When deciding to buy property in Bulgaria in the form of an apartment, you should decide on their location. It can be:
● housing in apartment hotels;
● residential complexes in resorts;
● standard apartment buildings.
Despite the level of comfort and infrastructure of the first two options, buying a property should be prepared for the additional costs of servicing such complexes. In an apartment, you get comparative peace, even during the peak season.