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It’s an exciting time to be selling Bulgarian property to cash buyers, as it does seem that the Bulgarian economy in on the move. Bulgaria, a nation of 7.2 million people and a relatively late entrant to the European Union, has made rapid strides over the last few years.
The former Communist nation has struggled to make the switch to free market capitalism and democracy, but one cannot fault the Bulgarian government for their effort. The Bulgarian government has worked very hard to raise the standard of living of its people because of the feeling in Europe that Bulgaria is not up to EU standards.
Bulgaria may be the poorest country in the European Union, but it is also one of the fastest growing economies in Europe. Bulgaria’s GDP growth was 3% over the last 12 months, which is very respectable under the current global economic conditions.
Bulgaria has been doing well despite roadblocks such as Brexit, which have weakened the European Union. The country has been affected by the recent meltdown of the Greek economy. This affects Bulgaria directly as Greece is a neighbour and a prominent trade partner.
Also, Bulgaria has had to deal with a refugee crisis recently. A number of refugees trying to get to Europe have made their way to Bulgaria.
So what does this mean for the Bulgarian property market? Well, would it surprise you to know there’s a lot of interest in Bulgaria from foreign investors from emerging countries such as Russia and Ukraine? Not just that, there are a number of British and Irish nationals who have fallen in love with Bulgaria and want to buy a home here.
Bulgaria is fast emerging as a popular overseas property market. It’s easy to see why. The cost of living here is incredibly low. You can buy a very decent three-bedroom apartment in Sofia, Bulgaria’s capital city, for just €35,000.
Similarly, you can buy a nice two-bedroom apartment in Sunny Beach, Bulgaria’s popular beach resort, for €25,000 or less. Since the prices of properties for sale in Bulgaria are so cheap, it generally attracts a number of middle class buyers from Russia, UK, Scandinavia and Ireland, who are looking to buy a holiday home abroad for cheap.
Most of the buyers who invest in apartments and villas in Bulgaria are generally cash buyers, who don’t take too long to finish the sale if they really like what’s on offer. But it’s important to understand that just because your apartment for sale in Bulgaria is cheap, that doesn’t mean it’s going to get sold.
There are a number of other factors involved, which generally go unnoticed by sellers. Marketing of the property and the way it is presented makes all the difference.
It would help tremendously to hire a UK or Irish estate agent who specialises in overseas property to help you sell the property to cash buyers from abroad.
They have a lot more experience of selling properties in Bulgaria to wealthy individuals from Russia and other countries in Eastern Europe than local agents. Also, you can benefit from their superior agent network and online marketing skills.
Contact the experts today to sell property in Bulgaria fast to cash buyers.