Bulgaria or Turkey — where to buy property

Bulgaria or Turkey – where to buy a home for holidays and investment – this is a question many investors, pensioners, and family people dreaming of property by the sea ask themselves. Both countries are interesting from the perspective of history, culture, nature, and business. To help you make an informed decision, we present a brief analysis of the advantages and disadvantages of buying a home in these countries.

Climate and tourist season

In Turkey, the beach season lasts from May to the end of October. On particularly warm days, locals and holidaymakers continue swimming in the Mediterranean Sea even in November. This is an excellent opportunity for investors to earn income from renting out apartments for 6 months of the year.

In Bulgaria, you can enjoy the warm Black Sea from June to the end of September. The water here warms up more slowly and cools down faster. The ambient air temperature is on average lower than in Turkey. Even in July and August, the temperature on the Black Sea coast rarely exceeds 30, and the fresh breeze brings coolness and relief from the heat.

Summer on Turkey’s Mediterranean coast is significantly hotter. From the beginning of July to the second half of August, temperatures rise to +35+40. Rain is a rare occurrence. It is difficult for people accustomed to a more moderate climate to tolerate such conditions. Therefore, from the point of view of climatic features, buying property for permanent residence or holidays in Bulgaria is a more interesting option.

Choice of property

Both Bulgaria and Turkey offer a wide choice of property. Homes are for sale by the sea, in major cities, and in rural areas. In both countries, every major town has supermarkets and shops where you can find the necessary groceries and essentials.  Medical centres, pharmacies, schools, and public transport are available.

You can buy property in ordinary urban buildings or in gated complexes with swimming pools, children’s and sports areas. Inexpensive studios, one-bedroom, and two-bedroom apartments are offered for sale. There are also luxurious apartments with sea views and parkland surroundings, suitable for summer holidays, renting out, or permanent residence.

Property prices

It is impossible to say in which country housing is cheaper.
Prices depend on many conditions:

• Proximity to the sea;
• View from the window;
• Location;
• Area;
• Infrastructure;
• Amount of the maintenance fee.

The most expensive options are offered in the capitals and major cities: Istanbul, Ankara, Antalya, Sofia, Varna, and Burgas. The price per square metre of ready-to-move-in housing varies from 850 to 1500 euros. Despite the prices, property of this kind is popular among investors, pensioners, and families choosing an option for permanent residence or holidays.

A cheap apartment at a price of 450–600 euros/sq. m. can be bought in Alanya or on Sunny Beach. At such prices, apartments are sold in buildings that are still under construction. This is an excellent option for investment. As soon as the building is completed and put into operation, the price per square metre may rise by 25%.

Housing in remote areas is inexpensive. If these are complexes, they have grocery shops; management companies organise transport to town centres and leisure areas.

Additional expenses

You can buy an apartment guided by price alone. But it is wiser to include other factors in your analysis.
Here are just some of them:

• Cost of acquiring the property. In addition to paying for the property in Bulgaria and Turkey, buyers must pay taxes and fees for notaries, translators, and lawyers. On average, in both countries these can amount to 4–4.5%.
• The annual tax on land and apartments in Turkey is 0.1–0.2%, in Bulgaria – 0.1–0.3%.
• Insurance. Bulgarian property is insured on a voluntary basis. When acquiring Turkish housing, owners will have to arrange earthquake insurance every year. On average, it amounts to 15 euros.
• Maintenance fee. Applicable to housing in complexes. Owners of apartments in Turkey pay approximately 35 euros per month (420 euros per year). In Bulgaria, the fee depends on the area and amounts to 7–12 euros/sq. m. per year.

The main advantage of buying property in Antalya, Alanya, Kemer, and Belek is the lower cost of flights from Russia, Ukraine, and Kazakhstan. In summer, a large number of charter flights are organised to Turkey. The ticket price is 20–30% lower than the price of a flight to Burgas or Varna.

Cultural and language features

Historically, Bulgaria is closer to most citizens of the former USSR countries. In terms of culture and language, it is close to those who remained in Russia, Ukraine, and Belarus, and to those who decided to link their lives with Israel, Germany, Norway, and even the USA.

Approximately 30% of the words in the Bulgarian language correspond in meaning and sound to Russian, Ukrainian, and Belarusian. The similarities between Turkish and the Slavic languages are practically nil.

Many residents of the USSR considered Bulgaria to be the sixteenth republic and admired its delicious fruit and vegetables. Despite the fact that time has passed and new generations have been born, the feeling of closeness between the peoples has remained.

Buying property in Bulgaria is a successful investment. The mild climate, low prices, and variety of offers will allow everyone to choose an ideal option.

The Bulgaria Avenue real estate agency will select for you the most profitable and liquid Bulgarian property, and will advise you on relocation matters. Get in touch – we are here to help!