Why property in Bulgaria is cheap

Buying property in Bulgaria is becoming more and more realistic.

In 2020-2021, Bulgaria entered the top 3 destinations in terms of enquiries from clients looking for overseas property (based on data from enquiries and questionnaires on international portals). 

Buyers are attracted by the high standard of living and the relatively stable economy.

The price range of residential/resort property is quite wide, and you can purchase cheap property in Bulgaria both by the sea and in the mountains, in villages or in cities.

Of course, we cannot compare the economy and standard of living in, for example, Switzerland and Bulgaria; nevertheless, in Switzerland a square metre costs on average 8,000 euros, while in Bulgaria it costs 600 euros.

Cheap property in Bulgaria — why is it cheap and is there a catch?

You can buy an apartment/house in Bulgaria at a low price for several reasons:

• The location of the property. 

On the coast, in a resort, on the 3rd or 4th line, in a complex that is about 10 years old or more, the price per square metre will be around 500 euros and above. In the Sunny Day 3 complex, which is located 800 m from the sea in the resort of Sunny Beach, you can buy a property for 16,000-20,000 euros with 1 bedroom, with furniture and appliances, and an area of 55-60 sq.m. Of course, on the internet you can also find offers of resort property from 8,000-10,000 euros in Bulgaria, but you need to pay attention to whether the complex has been put into operation and whether all the necessary documents are in place, so as to avoid „surprises“ later on. 

At ski resorts, for example Bansko, the situation is similar: the further the apartment is from the lifts, the lower the price.

Buying an apartment cheaply in Bulgaria in large cities and moving there on a residence permit/permanent residence — Varna, Burgas, Sofia, Plovdiv — is possible in outlying neighbourhoods. 

Buying a house in a village is more affordable in terms of price, cheaper than in the city itself. The further from a large city or resort, the lower the price per square metre.

• Quality of construction. Labour is cheap, materials are available „for every budget“, and by economising, the price per square metre works out cheaper. 
• The view from the window. 
• The floor level: the lower the floor, the cheaper.
• Orientation: north-facing is cheaper.

The market for cheap property in Bulgaria is still accessible, which is precisely why now is the time to buy property and invest. Every year prices are rising, differently in each region, but the figures do not stand still.

A little analysis:

In 2008, the minimum wage in Bulgaria was 220 leva; in 2020, it was 610 leva;

In 2008, the mortgage rate was 9.68%; in 2020, it was 2.5%;

In 2008, the unemployment rate was 6%; in 2020, it was 5.8%;

In 2008, inflation was 14.8%; in 2020, it was 1.3%.

There is no guarantee that property prices in Bulgaria will remain at such an affordable level, so buying a home in Bulgaria is an excellent investment in the future.

Buying cheap property in Bulgaria with the Bulgaria Avenue company is simple, reliable and profitable.