Property in Bulgaria for pensioners

Property in Bulgaria for pensioners is a special question. People planning to retire, or who have already had the opportunity to do so, often strive to find the ideal home. For many this is an apartment by the sea. For others – a small house with a plot of land. Bulgaria is chosen for its comfortable winters, sunny summers, the chance to live in a stable country, low property prices and quality produce.

Is it worth buying property in Bulgaria for a pensioner from Israel, Europe, Russia, Ukraine and other countries?

Retirement has long ceased to be regarded as a time of fading vitality devoted to caring for one’s health and grandchildren. Pensioners today are people with new opportunities. They have the chance to devote their free time to themselves, to travel, to learn new things, to live in a calm and comfortable place. At the same time they have a reliable, though not necessarily large, income, as well as health and energy.

Bulgaria is a country whose policy is aimed at attracting pensioners. By providing a small package of documents, a pensioner can obtain a temporary residence permit and move here. Bulgarian law “On Foreigners” provides for foreigners obtaining a residence permit on the basis of the status of “financially secure pensioner”.  Such residents are of interest to the state – they do not occupy jobs, but are able to pay for accommodation, food and services.

Pensioners, for their part, gain the following advantages:

• The chance to live in a country with a mild climate. In Bulgaria it is warm for 8–9 months of the year. In winter the temperature rarely drops below 0°C. You can constantly go for walks, enjoy movement, communication and life, without heavy spending on winter clothing and footwear.
• Low cost of living. Expenses for food, clothing and utilities are lower than in other countries. For Russians, Ukrainians and Kazakhs who receive their pensions not in leva or euros, it is important to understand the approximate monthly budget for living in Bulgaria based on income in roubles or hryvnias. Compared with Italy, Spain and Greece, in Bulgaria you can afford more spacious housing, a variety of entertainment and regular visits to restaurants. 
• Tasty, fresh produce. Almost at any time there are vegetables, herbs and fruit grown in Bulgaria, not treated with chemicals to keep them fresh on a long journey. Many people take up vegetable and orchard gardening themselves. Dairy and meat products are tasty and affordable.
• Well-developed infrastructure. Towns and villages are connected by regular buses. Air links make trips back home accessible. In towns there are shops, pharmacies and medical centres. In resort settlements they operate year-round.
• Opportunities for extra earnings. In Bulgaria you cannot officially work for the first 5 years, but many earn on the side by conducting excursions, arranging transfers, opening workshops and shops, and selling the results of their creative work.
• Travel and the chance to learn something new. Bulgaria offers a unique opportunity for self-development. The country is rich in natural, historical and architectural sights. There is also the possibility of travelling to other European countries.

How can a pensioner from another country choose property in Bulgaria?

Buying a home is a matter that requires a careful approach. Beforehand we recommend that you honestly answer several questions:

• Choice of place of residence. You can buy an apartment right by the sea, a few kilometres from it, in the mountains or in the central part of the country. You can choose a noisy city or a small settlement where people know each other. In seaside towns there are magnificent parks and promenades for walking, jogging and exercising on outdoor fitness equipment. Here you can combine the pleasant with the useful, socialise and enjoy life.
• Year-round or seasonal residence. For permanent living, apartments in ordinary residential buildings are suitable. Complexes, which often stand empty in winter, are convenient for living in during the summer.
• Additional income by renting the property out. Apartments in residential complexes with swimming pools and on the first line rent out best.
• Maintenance fee. An annual payment is charged in complexes for the use of pools and lifts, cleaning of communal areas and care of the surrounding grounds. When a person is working, €300–500 a year is an insignificant sum. For pensioners this money is enough for a month of comfortable living in Bulgaria.
• Apartment or cottage with a plot and garden. In multi-apartment buildings life is well-ordered; a management company takes care of operations. Residents of private houses enjoy quiet, freedom and the chance to work in the garden. Sometimes the best option for a pensioner is to buy a ground-floor apartment with access to a small yard. Instead of a balcony, developers provide yards of various sizes, large enough to place a table with chairs and a grill, to grow flowers, grapes and fruit trees, and to set up small children’s play areas. On the whole, apartments and houses with their own plot in Bulgaria are most often sought by pensioners from Russia and the CIS countries.
• The size of the new home. If relatives and friends often come to visit you, it is better to buy a two-room apartment or an apartment with two or three bedrooms. Studios are suitable for setting up a small, cosy nest filled with warmth and calm.
• The opportunity to communicate in one’s native language. It allows a person to quickly adapt to a new place of residence, find friends and attend interest clubs. For Russian speakers we recommend taking a closer look at Pomorie, Ravda, Nessebar and Balchik.  These same regions, along with the Burgas district of Sarafovo, have long been favoured, apart from Ukrainians and Russians, by the English.

Before buying a home, visit several towns and villages, get a feel for the atmosphere and rhythm of life. Only by seeing things with your own eyes and comparing several settlements can you decide where it is best to move.

Property prices

Apartments on the Bulgarian property market vary in price.

Several factors determine the price:

• Location. Property by the sea is more expensive. The price per square metre is high in the cities of Burgas and Varna.
• Residential complexes are cheaper than city houses.
• The price is affected by the presence of a good finish and quality furniture.
• Property in complexes that have not received Act 16 is cheaper.

Studios and two-room apartments cost from €450/m². Such options can be found in Golden Sands, Ravda, Pomorie and Sunny Beach.

Houses with plots in villages located 10 km from the sea cost €300–500/m².

Luxurious apartments with a stunning finish and designer furniture cost more than €800/m². The price of property in Varna and the central districts of Burgas starts from €1000.

Thousands of pensioners from Israel, Germany, Russia and other countries have already chosen Bulgaria for permanent residence, as well as for seasonal living. And this number is growing.

The Bulgaria Avenue agency’s database contains the most liquid and profitable properties. Get in touch — we will select a home that will let you fully enjoy life in Bulgaria!