Buying and Selling Property Trends in Bulgaria for 2017

Posted by admin 20/12/2016 0 Comment(s)

This is a great time to be in Bulgaria – the national economy has taken off over the last few years, and a pro-business politician, Rumen Radev, has been elected as the next President. The Bulgarian property market is on song as well.

 

The buying and selling property trends in Bulgaria for 2017 look very positive indeed. It’s no surprise that there is a lot of interest in the country coming from cash rich overseas buyers, especially from Russia.

 

Bulgaria is not a large country – it has a population of just 7.2 million. There are actually fewer people living in Bulgaria than in London. But it has a very diverse landscape, with a vast, unspoiled Black Sea Coast, large, gigantic mountains, idyllic villages, and busy, bustling cities.

 

The country has made a lot of progress since joining the European Union just about a decade back. There has been a massive improvement in the quality of life in Bulgaria since then. The rising income levels in the country are testament to the number of business opportunities available in the country today.

 

The Bulgarian property market has kept pace with the fast rising economy, which grew by 3% in 2016. There is a huge demand from high net worth overseas buyers who are looking to buy properties in Bulgaria online, as fast as possible in 2017.

 

Bulgaria has largely been unaffected by external events such as Brexit and the economic crisis in neighbouring Greece. Britain is one of Bulgaria’s main trading partners, and British buyers are among the most important buyers of properties here. But Brexit has not slowed down the real estate market in the country.

 

 Other factors such as the refugee crisis haven’t had much of an effect either. Much of Europe is struggling with the high volume of migration from troubled parts of the world such as Syria, Iraq and Afghanistan. Bulgaria serves as an entry point into Europe for many refugees. But the government has been careful enough not to make the refugee crisis Bulgaria’s problem.

 

 So what are the prospects for the property market in Bulgaria? It is generally very good. There is as usual a high amount of interest from cash rich overseas buyers from Russia and other Eastern European countries such as Ukraine, Moldova and Latvia.

 

Russians are big buyers in Bulgaria, and have been so since the start of the 21st century, when Bulgaria opened up its property market for foreign investment. Russians are believed to have bought over 500,000 properties in Bulgaria over the years, including over 50,000 apartments in the popular beach resort of Sunny Beach, near the city of Burgas.

 

British and Irish buyers are the other big buyers of Bulgarian properties. Most foreign buyers prefer to buy beachside villas and apartments in resort towns such as Sunny Beach and Varna or ski chalets in the winter destinations such as Bansko, Pamporovo and Borovets.

 

There is also some demand for apartments in cities such as Sofia, the capital of Bulgaria, Burgas and Plovdiv.

 

As we approach 2017, it’s safe to say that the state of the Bulgarian real estate market is pretty good.

Contact us today to buy or sell property in Bulgaria fast in 2017.

 

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